Zacks: Brokerages Anticipate Anixter International Inc. (NYSE:AXE) Will Announce Quarterly Sales of $2.05 Billion
Analysts expect Anixter International Inc. (NYSE:AXE) to report $2.05 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Anixter International’s earnings. The lowest sales estimate is $2.01 billion and the highest is $2.08 billion. Anixter International posted sales of $1.96 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.6%. The business is expected to report its next earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Anixter International will report full year sales of $2.05 billion for the current year, with estimates ranging from $7.85 billion to $8.00 billion. For the next financial year, analysts anticipate that the firm will report sales of $8.22 billion per share, with estimates ranging from $8.05 billion to $8.31 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Anixter International.
Anixter International (NYSE:AXE) last announced its quarterly earnings data on Tuesday, July 25th. The technology company reported $1.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.36. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Anixter International had a net margin of 1.91% and a return on equity of 13.09%. Anixter International’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 EPS.
AXE has been the topic of a number of recent analyst reports. Wells Fargo & Company restated a “market perform” rating and set a $82.00 price objective (down from $89.00) on shares of Anixter International in a research note on Wednesday, July 12th. Wolfe Research started coverage on Anixter International in a report on Tuesday, July 11th. They set an “outperform” rating and a $88.00 target price on the stock. Zacks Investment Research lowered Anixter International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, BidaskClub cut Anixter International from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $86.00.
In other Anixter International news, VP William Standish sold 1,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $78.60, for a total value of $78,600.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Samuel Zell purchased 526,277 shares of the stock in a transaction on Wednesday, July 26th. The stock was bought at an average price of $81.34 per share, for a total transaction of $42,807,371.18. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 556,277 shares of company stock worth $42,812,881 and sold 3,000 shares worth $232,350. Insiders own 14.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Anixter International by 44,948.8% in the first quarter. BlackRock Inc. now owns 3,703,911 shares of the technology company’s stock worth $293,721,000 after buying an additional 3,695,689 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Anixter International by 12.0% in the first quarter. Vanguard Group Inc. now owns 2,823,375 shares of the technology company’s stock valued at $223,894,000 after buying an additional 303,406 shares during the period. Morgan Stanley raised its position in shares of Anixter International by 119.1% in the first quarter. Morgan Stanley now owns 192,423 shares of the technology company’s stock valued at $15,258,000 after buying an additional 104,615 shares during the period. AQR Capital Management LLC purchased a new position in shares of Anixter International during the first quarter valued at about $7,981,000. Finally, Ameriprise Financial Inc. raised its position in shares of Anixter International by 58.7% in the first quarter. Ameriprise Financial Inc. now owns 232,747 shares of the technology company’s stock valued at $18,457,000 after buying an additional 86,110 shares during the period. Hedge funds and other institutional investors own 86.46% of the company’s stock.
Anixter International (NYSE:AXE) opened at 76.90 on Thursday. Anixter International has a 52 week low of $58.55 and a 52 week high of $88.00. The firm has a market capitalization of $2.56 billion, a PE ratio of 17.57 and a beta of 1.98. The firm has a 50-day moving average of $78.28 and a 200 day moving average of $79.54.
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About Anixter International
Anixter International Inc is engaged in the distribution of enterprise cabling and security solutions, electrical and electronic wire and cable products and utility power solutions. The Company operates through three segments: Network & Security Solutions (NSS), Electrical & Electronic Solutions (EES), and Utility Power Solutions (UPS).
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