AXIS Capital (NYSE:AXS) had its price target hoisted by research analysts at Morgan Stanley from $57.00 to $60.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "equal weight" rating on the insurance provider's stock. Morgan Stanley's price objective suggests a potential upside of 6.06% from the company's current price.
A number of other equities research analysts have also issued reports on AXS. Jefferies Financial Group assumed coverage on AXIS Capital in a research report on Thursday, November 18th. They issued a "buy" rating and a $65.00 target price on the stock. Zacks Investment Research lowered AXIS Capital from a "buy" rating to a "hold" rating and set a $49.00 target price on the stock. in a research report on Friday, September 17th. Finally, Wells Fargo & Company raised AXIS Capital from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $54.00 to $57.00 in a research report on Tuesday, January 4th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $57.40.
NYSE:AXS opened at $56.57 on Friday. AXIS Capital has a fifty-two week low of $44.26 and a fifty-two week high of $58.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $4.80 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98. The business's 50-day simple moving average is $52.82 and its 200-day simple moving average is $50.93.
AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Tuesday, October 26th. The insurance provider reported $0.01 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of ($0.57) by $0.58. AXIS Capital had a return on equity of 5.65% and a net margin of 8.00%. The business had revenue of $996.47 million for the quarter, compared to analysts' expectations of $909.45 million. During the same quarter in the previous year, the business posted ($0.77) EPS. AXIS Capital's revenue for the quarter was up 22.1% on a year-over-year basis. On average, research analysts expect that AXIS Capital will post 4.31 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in shares of AXIS Capital by 29.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,683 shares of the insurance provider's stock worth $77,000 after acquiring an additional 379 shares during the period. Marshall Wace LLP boosted its stake in shares of AXIS Capital by 1,488.4% during the 1st quarter. Marshall Wace LLP now owns 3,145 shares of the insurance provider's stock worth $172,000 after acquiring an additional 2,947 shares during the period. Hoylecohen LLC bought a new position in shares of AXIS Capital during the 3rd quarter worth approximately $215,000. Diversified Trust Co bought a new position in shares of AXIS Capital during the 4th quarter worth approximately $237,000. Finally, Verition Fund Management LLC bought a new position in shares of AXIS Capital during the 3rd quarter worth approximately $271,000. Institutional investors own 90.93% of the company's stock.
AXIS Capital Company Profile
AXIS Capital Holdings Ltd. engages in the provision of various insurance and reinsurance products and services. It operates through the Insurance and Reinsurance segments. The Insurance segment offers property, marine, terrorism, aviation, political risk, professional lines, liability, and accident, and health insurance products.
Featured Article: Most Volatile Stocks – What Investors Need to Know to Maximize ROI
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider AXIS Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AXIS Capital wasn't on the list.
While AXIS Capital currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here