Axos Financial (NYSE:AX) Releases Earnings Results, Hits Expectations

Axos Financial (NYSE:AX) released its earnings results on Tuesday. The company reported $1.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.80, Briefing.com reports. The business had revenue of $484.29 million for the quarter, compared to the consensus estimate of $296.02 million. Axos Financial had a return on equity of 19.03% and a net margin of 23.96%. During the same quarter in the previous year, the business earned $1.50 earnings per share.

Axos Financial Price Performance

Shares of NYSE:AX traded down $3.86 during trading on Friday, hitting $66.06. 52,418 shares of the company were exchanged, compared to its average volume of 604,759. The business’s 50 day moving average is $59.70 and its 200-day moving average is $55.63. The company has a market capitalization of $3.76 billion, a P/E ratio of 9.49 and a beta of 1.42. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.20. Axos Financial has a 1-year low of $32.05 and a 1-year high of $79.15.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AX shares. Piper Sandler boosted their price objective on Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday. Wedbush boosted their price objective on Axos Financial from $60.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday. Keefe, Bruyette & Woods cut Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 price objective for the company. in a report on Wednesday. Finally, Raymond James boosted their price objective on Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $81.00.

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.