Raymond James Analysts Upgrade AXIS
Bermuda-based Axis Capital was upgraded by equities researchers at Raymond James to an “outperform” rating in a report issued on Friday [Apr. 26].
Axis Capital posted its quarterly earnings results on Thursday, April 25. The company reported $1.92 earnings per share [EPS] for the quarter, beating the consensus estimate of $1.17 by $0.75. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.29 billion.
During the same quarter in the prior year, the company posted $1.07 earnings per share. The company’s quarterly revenue was up 5.2 percent on a year-over-year basis. On average, analysts predict that Axis Capital will post $4.32 earnings per share for the current fiscal year.
AXIS has been the subject of a number of other recent research reports. Analysts at BMO Capital Markets initiated coverage on shares of Axis Capital in a research note to investors on Thursday, April 18. They set an “outperform” rating on the stock. Separately, analysts at Goldman Sachs downgraded shares of Axis Capital from a “buy” rating to a “neutral” rating in a research note to investors on Monday, March 25. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Axis Capital in a research note to investors on Friday, March 1. They now have a $49.00 price target on the stock.
Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $42.00.
Axis Capital Holdings Limited is a Bermuda-based holding company for the AXIS Group of Companies.
