Strength Seen in Axis Capital (AXS): Can Its 3.9% Jump Turn into More Strength?

Axis Capital (AXS) shares ended the last trading session 3.8% higher at $108.72. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.3% gain over the past four weeks.AXIS Capital continues to build on its Specialty Insurance and Reinsurance business to pave the way for long-term growth. Its focus on deploying resources prudently while enhancing efficiencies, improving its portfolio mix and underwriting profitability, apart from fortifying the casualty and professional lines in the insurance segment, bodes well. The repositioning of its portfolio, which has been carried out over the last three years, will continue to drive results. Its collaborations with distribution partners enable AXIS to widen its reach. AXIS Capital effectively deploys capital to boost shareholder value.This insurance company is expected to post quarterly earnings of $3.17 per share in its upcoming report, which represents a year-over-year change of -3.7%. Revenues are expected to be $1.72 billion, up 8.4% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Axis Capital, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AXS going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Axis Capital is part of the Zacks Insurance - Property and Casualty industry. Kingstone Companies, Inc (KINS), another stock in the same industry, closed the last trading session 6.7% higher at $18.19. KINS has returned 11.1% in the past month.For Kingstone Companies, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.95. This represents a change of +26.7% from what the company reported a year ago. Kingstone Companies currently has a Zacks Rank of #2 (Buy).Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.See Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks