American Equity Investment Life Holding (AEL) Expected to Post Quarterly Sales of $526.17 Million

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Wall Street analysts predict that American Equity Investment Life Holding (NYSE:AEL) will report sales of $526.17 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for American Equity Investment Life’s earnings. The highest sales estimate is $538.22 million and the lowest is $514.11 million. American Equity Investment Life reported sales of $500.20 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.2%. The firm is scheduled to issue its next earnings report after the market closes on Monday, November 5th.

According to Zacks, analysts expect that American Equity Investment Life will report full year sales of $2.11 billion for the current year, with estimates ranging from $2.08 billion to $2.13 billion. For the next year, analysts anticipate that the company will report sales of $2.24 billion, with estimates ranging from $2.16 billion to $2.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow American Equity Investment Life.

American Equity Investment Life (NYSE:AEL) last issued its quarterly earnings results on Monday, November 5th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.99. American Equity Investment Life had a net margin of 11.14% and a return on equity of 12.32%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $600.27 million. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The firm’s quarterly revenue was up 31.8% on a year-over-year basis.

A number of research analysts recently issued reports on AEL shares. Sandler O’Neill reiterated a “buy” rating and issued a $41.00 price target on shares of American Equity Investment Life in a research note on Friday, July 13th. Royal Bank of Canada set a $38.00 price target on shares of American Equity Investment Life and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Finally, ValuEngine downgraded shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.17.

Several large investors have recently modified their holdings of the company. Cambria Investment Management L.P. raised its position in American Equity Investment Life by 11.5% in the 2nd quarter. Cambria Investment Management L.P. now owns 13,571 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 1,404 shares during the last quarter. Envestnet Asset Management Inc. raised its position in American Equity Investment Life by 13.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,520 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 1,620 shares during the last quarter. Alps Advisors Inc. raised its position in American Equity Investment Life by 9.3% in the 2nd quarter. Alps Advisors Inc. now owns 20,376 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 1,728 shares during the last quarter. Piedmont Investment Advisors LLC raised its position in American Equity Investment Life by 9.2% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 21,118 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 1,775 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in American Equity Investment Life by 17.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 14,267 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

American Equity Investment Life stock traded up $2.27 during trading on Friday, reaching $34.79. The stock had a trading volume of 446,091 shares, compared to its average volume of 394,166. American Equity Investment Life has a 52-week low of $27.06 and a 52-week high of $38.56. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $2.89 billion, a P/E ratio of 11.01 and a beta of 2.51.

American Equity Investment Life Company Profile

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. The company markets its products through various distribution channels, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

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Earnings History and Estimates for American Equity Investment Life (NYSE:AEL)

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