Axis Capital Holdings Limited Second Quarter Earnings Sneak Peek

Axis Capital Holdings Limited (NYSE:AXS) will unveil its latest earnings on Tuesday, July 31, 2012. Axis Capital Holdings, through its subsidiaries, provides a range of insurance and reinsurance products to insureds and reinsureds worldwide operations with main locations in Bermuda, the United States, and Europe.

Axis Capital Holdings Limited Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 93 cents per share, a rise of 86% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.07. Between one and three months ago, the average estimate moved down. It also has dropped from $1.01 during the last month. For the year, analysts are projecting net income of $3.64 per share, a swing from a loss of $1.26 last year.

Past Earnings Performance: The company fell short of estimates last quarter after topping forecasts the quarter prior. In the first quarter, it reported profit of 91 cents per share against a mean estimate of $1.09. Two quarters ago, it beat expectations by 5 cents with net income of 53 cents.

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A Look Back: In the first quarter, the company swung to a profit of $135.8 million (96 cents a share) from a loss of $374.5 million ($3.39) a year earlier, but missed analyst estimates. Revenue rose 5.1% to $977.5 million from $929.8 million.

Wall St. Revenue Expectations: On average, analysts predict $909.6 million in revenue this quarter, a rise of 7% from the year-ago quarter. Analysts are forecasting total revenue of $3.55 billion for the year, a rise of 3.8% from last year’s revenue of $3.42 billion.

Stock Price Performance: From June 26, 2012 to July 25, 2012, the stock price rose $1.47 (4.7%), from $31.52 to $32.99. The stock price saw one of its best stretches over the last year between December 13, 2011 and December 27, 2011, when shares rose for 10 straight days, increasing 9.3% (+$2.78) over that span. It saw one of its worst periods between July 29, 2011 and August 8, 2011 when shares fell for seven straight days, dropping 14.5% (-$4.62) over that span.

Key Stats:

On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 16% in the second quarter of the last fiscal year, 0% in the third quarter of the last fiscal year and 0.3% in the fourth quarter of the last fiscal year before increasing again in the first quarter.

Analyst Ratings: With seven analysts rating the stock a buy, none rating it a sell and six rating the stock a hold, there are indications of a bullish stance by analysts.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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