AXA SA Full-year 2014 -- Forecast

FRANKFURT--The following is a summary of analysts' forecasts for AXA SA (CS.FR) full year results, based on a poll of nine analysts conducted by Dow Jones Newswires (figures in million euros, EPS, dividend and target price in EUR, combined ration in percent, according to IFRS). Earnings figures are scheduled to be released February 25.

=== 
                          Net               Net        Comb. 
                      attrib.   Net Inc.   Inc.        Ratio 
Full year              income underlying   adj.   EPS P&C(a) 
AVERAGE                 5,250      5,005  5,447  2.03   96.5 
Prev. Year              4,482      4,728  5,162  1.75   96.6 
+/- in %                  +17       +5.9   +5.5   +16   -0.1 
 
MEDIAN                  5,338      5,022  5,463  2.05   96.6 
Maximum                 5,588      5,124  5,574  2.08   97.0 
Minimum                 4,706      4,814  5,242  1.95   96.1 
Amount(b)                   8          8      6     4      7 
 
Baader-Helvea           5,172      5,016     --  2.02   96.4 
Berenberg               5,322      5,123  5,470    --   96.3 
Bryan Garnier              --      5,027  5,454    --   96.7 
Credit Suisse           5,366      5,124  5,574  2.08     -- 
Deutsche Bank           5,355      5,057  5,484  2.07   96.7 
Independent Research    5,133         --     --    --   96.1 
J.P. Morgan             4,706      4,814  5,242  1.95   97.0 
Keefe, Bruyette & Woods 5,354      4,956  5,455    --   96.6 
 
 
                 Target price  Rating               DPS 2014 
 
AVERAGE                 22.14  positive 7   AVERAGE     0.89 
Prev. Quarter           21.60  neutral  2   Prev. Year  0.81 
+/- in %                 +2.5  negative 0   +/- in %     +10 
 
MEDIAN                  22.50               MEDIAN      0.89 
Maximum                 23.20               Maximum     0.96 
Minimum                 19.50               Minimum     0.85 
Amount                      9               Amount         9 
 
Baader-Helvea           21.50  Buy                      0.90 
Barclays                21.50  Overweight               0.96 
Berenberg               23.20  Buy                      0.89 
Bryan Garnier           23.00  Buy                      0.90 
Credit Suisse           22.70  Outperform               0.89 
Deutsche Bank           22.50  Buy                      0.89 
Independent Research    23.00  Hold                     0.85 
J.P. Morgan             22.40  Overweight               0.86 
Keefe, Bruyette & Woods 19.50  Market Perform           0.90 
=== 

Year-earlier figures are as reported by the company.

(a) Property & Casualty.

(b) Including anonymous estimates from one more analyst.

DJG/voi 

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