Wall Street brokerages predict that Anixter International Inc. (NYSE:AXE) will post sales of $2.13 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Anixter International’s earnings. The highest sales estimate is $2.14 billion and the lowest is $2.11 billion. Anixter International reported sales of $2.02 billion in the same quarter last year, which would indicate a positive year over year growth rate of 5.4%. The firm is expected to report its next earnings report on Tuesday, October 23rd.
According to Zacks, analysts expect that Anixter International will report full year sales of $8.31 billion for the current financial year. For the next year, analysts anticipate that the firm will report sales of $8.71 billion per share, with estimates ranging from $8.63 billion to $8.78 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Anixter International.
Anixter International (NYSE:AXE) last announced its earnings results on Thursday, July 26th. The technology company reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.04. Anixter International had a net margin of 1.29% and a return on equity of 12.42%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period in the prior year, the business earned $1.36 earnings per share. Anixter International’s quarterly revenue was up 6.8% on a year-over-year basis.
AXE has been the topic of a number of research reports. ValuEngine upgraded shares of Anixter International from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 12th. Zacks Investment Research upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. Finally, Longbow Research upgraded shares of Anixter International from a “neutral” rating to a “buy” rating in a research report on Friday, July 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $85.50.
Shares of AXE stock traded down $0.50 during trading hours on Friday, reaching $70.50. 90,010 shares of the company were exchanged, compared to its average volume of 186,961. Anixter International has a fifty-two week low of $56.25 and a fifty-two week high of $88.85. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.55 and a beta of 2.17. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65.
In other Anixter International news, Director Robert J. Eck sold 16,642 shares of the company’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $75.00, for a total value of $1,248,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.60% of the company’s stock.
A number of large investors have recently modified their holdings of AXE. Point72 Asia Hong Kong Ltd bought a new position in Anixter International in the first quarter valued at $160,000. Verition Fund Management LLC bought a new position in Anixter International in the first quarter valued at $214,000. Suntrust Banks Inc. bought a new position in Anixter International in the first quarter valued at $215,000. PNC Financial Services Group Inc. grew its position in Anixter International by 33.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the technology company’s stock valued at $185,000 after purchasing an additional 727 shares in the last quarter. Finally, Bridgewater Associates LP bought a new position in Anixter International in the second quarter valued at $208,000. 90.92% of the stock is owned by hedge funds and other institutional investors.
About Anixter International
Anixter International Inc, through its subsidiary, Anixter Inc, distributes enterprise cabling and security solutions, electrical and electronic wire and cable products, and utility power solutions. Its Network & Security Solutions segment offers copper and fiber optic cable and connectivity, access control, video surveillance, intrusion and fire/life safety, cabinet, power, cable management, wireless, professional audio/video, voice and networking switche, and other ancillary products for technology, finance, telecommunications service provider, transportation, education, government, healthcare, and retail industries.
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