$1.51 EPS Expected for Anixter International Inc. (AXE) This Quarter
Equities research analysts expect Anixter International Inc. (NYSE:AXE) to report earnings of $1.51 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Anixter International’s earnings, with the highest EPS estimate coming in at $1.52 and the lowest estimate coming in at $1.50. Anixter International posted earnings per share of $1.38 during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.4%. The company is scheduled to issue its next quarterly earnings report on Tuesday, October 24th.
According to Zacks, 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 year, analysts anticipate that the firm 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 research analysts that cover Anixter International.
Anixter International (NYSE:AXE) last released its quarterly earnings data on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, meeting analysts’ consensus estimates of $1.36. Anixter International had a net margin of 1.91% and a return on equity of 13.09%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the business earned $1.32 earnings per share. Anixter International’s revenue was up 2.3% compared to the same quarter last year.
Several research analysts have weighed in on the company. Wolfe Research assumed coverage on Anixter International in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 price target for the company. Zacks Investment Research downgraded Anixter International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Wells Fargo & Company restated a “market perform” rating and issued a $82.00 price target (down from $89.00) on shares of Anixter International in a research note on Wednesday, July 12th. Finally, BidaskClub upgraded Anixter International from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $86.00.
In other news, VP William Standish sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $76.20, for a total transaction of $76,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Samuel Zell bought 526,277 shares of the stock in a transaction dated Wednesday, July 26th. The shares were purchased at an average price of $81.34 per share, with a total value of $42,807,371.18. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 556,277 shares of company stock valued at $42,812,881 and sold 3,000 shares valued at $232,350. Corporate insiders own 14.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE increased its position in Anixter International by 1.6% in the second quarter. US Bancorp DE now owns 4,527 shares of the technology company’s stock worth $354,000 after buying an additional 72 shares in the last quarter. State of Alaska Department of Revenue increased its position 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 worth $250,000 after buying an additional 80 shares in the last quarter. Airain ltd increased its position in Anixter International by 4.2% in the first quarter. Airain ltd now owns 3,634 shares of the technology company’s stock worth $288,000 after buying an additional 146 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Anixter International by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,600 shares of the technology company’s stock worth $920,000 after buying an additional 200 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Anixter International by 1.4% in the first quarter. Arizona State Retirement System now owns 14,864 shares of the technology company’s stock worth $1,179,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 86.46% of the company’s stock.
Anixter International (NYSE:AXE) traded down 0.70% during trading on Tuesday, hitting $77.70. 102,067 shares of the stock were exchanged. The company has a 50-day moving average price of $78.37 and a 200 day moving average price of $79.56. Anixter International has a 1-year low of $58.55 and a 1-year high of $88.00. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 17.75 and a beta of 1.98.
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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