$1.51 Earnings Per Share Expected for Anixter International Inc. (AXE) This Quarter
Analysts predict that Anixter International Inc. (NYSE:AXE) will report earnings per share (EPS) of $1.51 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Anixter International’s earnings, with estimates ranging from $1.50 to $1.52. Anixter International posted earnings of $1.38 per share in the same quarter last year, which suggests a positive year over year growth rate of 9.4%. The business is expected to announce its next quarterly earnings results on Tuesday, October 24th.
On average, analysts expect that Anixter International will report full year earnings of $5.33 per share for the current financial year, with EPS estimates ranging from $5.28 to $5.36. For the next fiscal year, analysts anticipate that the company will report earnings of $5.91 per share, with EPS estimates ranging from $5.74 to $6.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Anixter International.
Anixter International (NYSE:AXE) last issued 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 firm had revenue of $2 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 EPS.
A number of research analysts have commented on AXE shares. Zacks Investment Research downgraded Anixter International from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. Wells Fargo & Company restated a “market perform” rating and issued a $82.00 target price (down previously 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 research note on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 target price on the stock. Finally, BidaskClub downgraded Anixter International from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Anixter International presently has a consensus rating of “Hold” and a consensus price target of $86.00.
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Shares of Anixter International (NYSE:AXE) opened at 71.55 on Friday. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 16.35 and a beta of 1.98. Anixter International has a one year low of $58.55 and a one year high of $88.00. The company has a 50-day moving average of $76.72 and a 200 day moving average of $78.69.
In related news, Director Samuel Zell purchased 526,277 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP William Standish sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $74.70, for a total value of $74,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 556,277 shares of company stock worth $42,812,881 and sold 3,000 shares worth $228,450. Insiders own 14.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in AXE. Amalgamated Bank increased its stake in Anixter International by 1.3% in the second quarter. Amalgamated Bank now owns 3,973 shares of the technology company’s stock valued at $311,000 after buying an additional 51 shares during the period. OxFORD Asset Management LLP increased its stake in Anixter International by 1.5% in the second quarter. OxFORD Asset Management LLP now owns 4,604 shares of the technology company’s stock valued at $360,000 after buying an additional 68 shares during the period. US Bancorp DE increased its stake in Anixter International by 1.6% in the second quarter. US Bancorp DE now owns 4,527 shares of the technology company’s stock valued at $354,000 after buying an additional 72 shares during the period. State of Alaska Department of Revenue increased its stake in Anixter International by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 3,160 shares of the technology company’s stock valued at $250,000 after buying an additional 80 shares during the period. Finally, Airain ltd increased its stake in Anixter International by 4.2% in the first quarter. Airain ltd now owns 3,634 shares of the technology company’s stock valued at $288,000 after buying an additional 146 shares during the period. Institutional investors own 86.64% of the company’s stock.
Anixter International Company Profile
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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