American Equity Investment Life (AEL) Issues Earnings Results, Beats Estimates By $0.14 EPS
American Equity Investment Life (NYSE:AEL) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.14, Briefing.com reports. American Equity Investment Life had a return on equity of 10.50% and a net margin of 7.90%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $550.89 million. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue was up 99.0% compared to the same quarter last year.
Shares of American Equity Investment Life (AEL) opened at $30.52 on Thursday. American Equity Investment Life has a 1 year low of $22.23 and a 1 year high of $35.79. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $2,721.77, a price-to-earnings ratio of 10.60 and a beta of 2.50.
A number of equities analysts recently commented on the company. ValuEngine upgraded American Equity Investment Life from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada reiterated a “buy” rating and set a $35.00 price objective on shares of American Equity Investment Life in a research report on Friday, December 8th. B. Riley lifted their price objective on American Equity Investment Life from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 6th. Finally, Goldman Sachs Group assumed coverage on American Equity Investment Life in a research report on Wednesday, October 18th. They set a “neutral” rating and a $29.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $29.83.
American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its life insurance subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.
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