Axa: Oddo details interim results forecasts
(CercleFinance.com) - Axa will publish its interim results on before the market opens on Thursday 2 August.
Broker Oddo expects revenues to slip 2.1% to 53.2 billion euros, penalised by negative FX factors, with insurance premiums of 25.6 billion euros (-4.1%), health insurance premiums of 6.6 billion euros (+1.9%) and 18.7 billion euros in non-life insurance (-0.8%). Before this publication, Oddo confirms its buy rating on the stock, along with its target price of 29 euros.
Analysts expect operating income to fall 0.9% to 3,143 million euros. The publication of 2018 interim results should also be an opportunity to review the future acquisition of XL Group, which is scheduled for H2 2018, along with its impact on the group's balance sheet.
Oddo has pointed out that AXA expects a solvency margin of between 190% and 200% at end-2018, with gearing of around 32% (according to Oddo, this should actually be closer to 31%).
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Broker Oddo expects revenues to slip 2.1% to 53.2 billion euros, penalised by negative FX factors, with insurance premiums of 25.6 billion euros (-4.1%), health insurance premiums of 6.6 billion euros (+1.9%) and 18.7 billion euros in non-life insurance (-0.8%). Before this publication, Oddo confirms its buy rating on the stock, along with its target price of 29 euros.
Analysts expect operating income to fall 0.9% to 3,143 million euros. The publication of 2018 interim results should also be an opportunity to review the future acquisition of XL Group, which is scheduled for H2 2018, along with its impact on the group's balance sheet.
Oddo has pointed out that AXA expects a solvency margin of between 190% and 200% at end-2018, with gearing of around 32% (according to Oddo, this should actually be closer to 31%).
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.