$1.51 Earnings Per Share Expected for Anixter International Inc. (AXE) This Quarter
Equities analysts forecast that Anixter International Inc. (NYSE:AXE) will post earnings per share of $1.51 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Anixter International’s earnings. The highest EPS estimate is $1.52 and the lowest is $1.50. Anixter International posted earnings of $1.38 per share in the same quarter last year, which would suggest a positive year over year growth rate of 9.4%. The business is expected to issue its next earnings results before the market opens 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 fiscal year, analysts forecast that the firm will post earnings of $5.91 per share, with EPS estimates ranging from $5.74 to $6.00. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Anixter International.
Anixter International (NYSE:AXE) last issued its earnings results on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.36. Anixter International had a net margin of 1.91% and a return on equity of 13.09%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the firm earned $1.32 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis.
Several analysts have recently weighed in on AXE shares. Zacks Investment Research lowered shares of Anixter International from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. Wolfe Research started coverage on shares of Anixter International in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 price objective for the company. BidaskClub lowered shares of Anixter International from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Wells Fargo & Company reiterated a “market perform” rating and issued a $82.00 price objective (down previously from $89.00) on shares of Anixter International in a research note on Wednesday, July 12th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $86.00 price objective on shares of Anixter International in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Anixter International presently has a consensus rating of “Hold” and an average target price of $86.00.
Shares of Anixter International (NYSE:AXE) opened at 88.00 on Friday. The company has a market cap of $2.93 billion, a P/E ratio of 20.11 and a beta of 2.03. The firm has a 50-day moving average of $81.71 and a 200 day moving average of $78.49. Anixter International has a 52 week low of $60.45 and a 52 week high of $88.60.
In other Anixter International news, CEO Robert J. Eck sold 2,600 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $86.23, for a total transaction of $224,198.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William Standish sold 1,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $86.20, for a total transaction of $86,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 550,277 shares of company stock valued at $42,811,566 and have sold 30,200 shares valued at $2,488,458. Insiders own 14.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Advisor Group Inc. increased its stake in Anixter International by 110.9% during the 2nd quarter. Advisor Group Inc. now owns 1,354 shares of the technology company’s stock valued at $106,000 after purchasing an additional 712 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Anixter International in the 2nd quarter worth $158,000. Riverhead Capital Management LLC grew its stake in shares of Anixter International by 77.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,131 shares of the technology company’s stock worth $167,000 after acquiring an additional 931 shares in the last quarter. Flinton Capital Management LLC grew its stake in shares of Anixter International by 64.0% in the 2nd quarter. Flinton Capital Management LLC now owns 2,788 shares of the technology company’s stock worth $218,000 after acquiring an additional 1,088 shares in the last quarter. Finally, Cigna Investments Inc. New bought a new stake in shares of Anixter International in the 2nd quarter worth $220,000. Institutional investors and hedge funds own 85.53% of the company’s stock.
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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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