Wall Street brokerages expect that Anixter International Inc. (NYSE:AXE) will report sales of $2.05 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Anixter International’s earnings, with the lowest sales estimate coming in at $2.01 billion and the highest estimate coming in at $2.08 billion. Anixter International posted sales of $1.96 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.6%. The firm is scheduled to report its next quarterly 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 year, analysts forecast that the firm will report sales of $8.22 billion per share, with estimates ranging from $8.05 billion to $8.31 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Anixter International.

Anixter International (NYSE:AXE) last issued its quarterly earnings results on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.36. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Anixter International had a return on equity of 13.09% and a net margin of 1.91%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 EPS.

Several analysts have issued reports on the company. Zacks Investment Research upgraded Anixter International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. BidaskClub lowered Anixter International from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Robert W. Baird reiterated a “hold” rating and set a $86.00 target price on shares of Anixter International in a research note on Friday, September 1st. Wells Fargo & Company reiterated a “market perform” rating and set a $82.00 target price (down previously from $89.00) on shares of Anixter International in a research note on Wednesday, July 12th. Finally, Wolfe Research initiated coverage on Anixter International in a research note on Tuesday, July 11th. They set an “outperform” rating and a $88.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Anixter International has a consensus rating of “Hold” and a consensus target price of $86.00.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/05/2-05-billion-in-sales-expected-for-anixter-international-inc-axe-this-quarter.html.

In other news, VP William Standish sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $74.70, for a total transaction of $74,700.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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, for a total transaction of $42,807,371.18. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 557,777 shares of company stock worth $42,813,066 and have sold 27,600 shares worth $2,255,610. 14.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Chicago Equity Partners LLC bought a new position in shares of Anixter International during the second quarter worth approximately $1,389,000. Morgan Stanley increased its stake in shares of Anixter International by 119.1% during the first quarter. Morgan Stanley now owns 192,423 shares of the technology company’s stock worth $15,258,000 after purchasing an additional 104,615 shares during the period. First Midwest Bank Trust Division increased its stake in shares of Anixter International by 2.7% during the second quarter. First Midwest Bank Trust Division now owns 11,082 shares of the technology company’s stock worth $867,000 after purchasing an additional 291 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of Anixter International by 23.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 10,900 shares of the technology company’s stock worth $864,000 after purchasing an additional 2,100 shares during the period. Finally, Peregrine Capital Management LLC increased its stake in shares of Anixter International by 2.0% during the second quarter. Peregrine Capital Management LLC now owns 107,876 shares of the technology company’s stock worth $8,436,000 after purchasing an additional 2,153 shares during the period. Institutional investors own 85.53% of the company’s stock.

Anixter International (NYSE AXE) opened at 87.25 on Thursday. The firm has a 50-day moving average price of $76.68 and a 200 day moving average price of $77.79. The company has a market capitalization of $2.89 billion, a P/E ratio of 24.29 and a beta of 2.03. Anixter International has a 12 month low of $58.99 and a 12 month high of $88.30.

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).

Get a free copy of the Zacks research report on Anixter International (AXE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Anixter International (NYSE:AXE)

Receive News & Ratings for Anixter International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anixter International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.