Equities Analysts Issue Forecasts for Axos Financial, Inc.’s Q3 2024 Earnings (NYSE:AX)

Axos Financial, Inc. (NYSE:AX) – Analysts at Wedbush increased their Q3 2024 earnings per share estimates for shares of Axos Financial in a note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the company will post earnings of $1.70 per share for the quarter, up from their prior forecast of $1.68. Wedbush has a “Neutral” rating and a $62.00 price objective on the stock. The consensus estimate for Axos Financial’s current full-year earnings is $6.47 per share. Wedbush also issued estimates for Axos Financial’s Q4 2024 earnings at $1.74 EPS, FY2024 earnings at $6.46 EPS, Q1 2025 earnings at $1.83 EPS, Q2 2025 earnings at $1.76 EPS, Q3 2025 earnings at $1.71 EPS, Q4 2025 earnings at $1.80 EPS, FY2025 earnings at $7.10 EPS, Q1 2026 earnings at $1.89 EPS and Q2 2026 earnings at $1.90 EPS.

Axos Financial (NYSE:AX) last announced its earnings results on Tuesday, January 30th. The company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.21. The company had revenue of $352.74 million during the quarter, compared to the consensus estimate of $247.43 million. Axos Financial had a return on equity of 17.83% and a net margin of 24.55%. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 earnings per share.

Other equities research analysts have also issued reports about the company. StockNews.com raised Axos Financial from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. TheStreet upgraded Axos Financial from a “c+” rating to a “b-” rating in a research note on Monday, December 4th. Finally, Raymond James upped their target price on Axos Financial from $45.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Axos Financial currently has a consensus rating of “Moderate Buy” and an average target price of $61.25.

Axos Financial Trading Up 2.5 %

Axos Financial stock opened at $53.31 on Thursday. The business’s fifty day moving average is $52.51 and its 200 day moving average is $46.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.07 and a quick ratio of 1.07. Axos Financial has a one year low of $32.05 and a one year high of $60.00. The stock has a market capitalization of $3.03 billion, a PE ratio of 7.86 and a beta of 1.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in Axos Financial by 152.8% in the third quarter. American Century Companies Inc. now owns 1,395,715 shares of the company’s stock valued at $52,842,000 after purchasing an additional 843,606 shares during the period. Norges Bank purchased a new stake in shares of Axos Financial during the fourth quarter worth about $20,955,000. State Street Corp increased its position in shares of Axos Financial by 22.2% during the first quarter. State Street Corp now owns 2,670,788 shares of the company’s stock worth $98,605,000 after acquiring an additional 485,842 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Axos Financial by 114.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 795,381 shares of the company’s stock worth $43,428,000 after acquiring an additional 423,930 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its position in shares of Axos Financial by 341.4% during the fourth quarter. Voloridge Investment Management LLC now owns 377,698 shares of the company’s stock worth $20,622,000 after acquiring an additional 292,126 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insiders Place Their Bets

In other Axos Financial news, Director Sara Wardell-Smith bought 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $49.75 per share, with a total value of $248,750.00. Following the purchase, the director now owns 5,000 shares in the company, valued at approximately $248,750. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Andrew J. Micheletti sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $52.89, for a total transaction of $132,225.00. Following the sale, the executive vice president now owns 422,583 shares in the company, valued at $22,350,414.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sara Wardell-Smith acquired 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $49.75 per share, for a total transaction of $248,750.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $248,750. The disclosure for this purchase can be found here. 4.82% of the stock is owned by insiders.

About Axos Financial

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.