Zacks: Analysts Anticipate American Equity Investment Life Holding (NYSE:AEL) Will Announce Quarterly Sales of $570.70 Million

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Wall Street analysts expect that American Equity Investment Life Holding (NYSE:AEL) will report $570.70 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for American Equity Investment Life’s earnings, with estimates ranging from $569.46 million to $571.94 million. American Equity Investment Life posted sales of $533.28 million in the same quarter last year, which would indicate a positive year over year growth rate of 7%. The company is scheduled to announce its next earnings report after the market closes on Monday, August 5th.

On average, analysts expect that American Equity Investment Life will report full-year sales of $2.30 billion for the current year, with estimates ranging from $2.30 billion to $2.31 billion. For the next year, analysts forecast that the business will post sales of $2.48 billion, with estimates ranging from $2.45 billion to $2.50 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover American Equity Investment Life.

American Equity Investment Life (NYSE:AEL) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $625.65 million. During the same period in the previous year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 741.8% on a year-over-year basis.

A number of equities analysts have issued reports on the company. Sandler O’Neill downgraded American Equity Investment Life from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. UBS Group lifted their price target on Tableau Software to $134.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Raymond James restated a “hold” rating on shares of Broadcom in a research note on Friday, June 14th. ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Finally, TheStreet downgraded Tribune Publishing from a “c-” rating to a “d+” rating in a research note on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. American Equity Investment Life has a consensus rating of “Hold” and a consensus price target of $33.50.

American Equity Investment Life stock traded down $0.41 during midday trading on Friday, reaching $26.58. The stock had a trading volume of 299,729 shares, compared to its average volume of 443,677. American Equity Investment Life has a 12 month low of $25.27 and a 12 month high of $38.56. The company has a market cap of $2.44 billion, a P/E ratio of 5.70 and a beta of 2.00. The business has a fifty day moving average price of $27.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.11 and a quick ratio of 0.11.

In related news, CFO Ted Morris Johnson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $26.11, for a total value of $261,100.00. Following the transaction, the chief financial officer now owns 86,833 shares in the company, valued at $2,267,209.63. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jeffrey D. Lorenzen sold 12,413 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $27.25, for a total value of $338,254.25. Following the completion of the transaction, the vice president now owns 41,030 shares in the company, valued at approximately $1,118,067.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,413 shares of company stock worth $3,336,254. 1.99% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of AEL. Norges Bank bought a new position in shares of American Equity Investment Life in the fourth quarter worth $38,177,000. Acadian Asset Management LLC increased its holdings in shares of American Equity Investment Life by 300.4% in the first quarter. Acadian Asset Management LLC now owns 482,329 shares of the financial services provider’s stock worth $13,034,000 after purchasing an additional 361,865 shares during the period. Bank of America Corp DE increased its holdings in shares of American Equity Investment Life by 14.3% in the fourth quarter. Bank of America Corp DE now owns 1,408,123 shares of the financial services provider’s stock worth $39,342,000 after purchasing an additional 176,159 shares during the period. Burney Co. increased its holdings in shares of American Equity Investment Life by 66.1% in the first quarter. Burney Co. now owns 333,310 shares of the financial services provider’s stock worth $9,006,000 after purchasing an additional 132,625 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of American Equity Investment Life by 9.4% in the first quarter. JPMorgan Chase & Co. now owns 1,344,113 shares of the financial services provider’s stock worth $36,318,000 after purchasing an additional 115,028 shares during the period. Institutional investors and hedge funds own 92.19% of the company’s stock.

About American Equity Investment Life

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. It markets its products through independent agents, 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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