Anixter International Inc. (AXE) Releases Earnings Results
Anixter International Inc. (NYSE:AXE) issued its quarterly earnings data on Tuesday. The technology company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.21), Bloomberg Earnings reports. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.06 billion. Anixter International had a return on equity of 13.09% and a net margin of 1.91%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $1.38 EPS.
Shares of Anixter International (NYSE:AXE) opened at 75.35 on Wednesday. The stock’s 50 day moving average is $81.91 and its 200-day moving average is $78.52. Anixter International has a 1-year low of $63.40 and a 1-year high of $88.60. The stock has a market cap of $2.50 billion, a PE ratio of 17.21 and a beta of 2.03.
A number of analysts have recently commented on AXE shares. Zacks Investment Research raised shares of Anixter International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. BidaskClub cut shares of Anixter International from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Robert W. Baird reissued 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 reissued 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 started coverage on shares of Anixter International in a research note on Tuesday, July 11th. They set an “outperform” rating and a $88.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $86.00.
In related news, VP William Standish sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $76.95, for a total value of $76,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert J. Eck sold 13,600 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $80.00, for a total transaction of $1,088,000.00. The disclosure for this sale can be found here. In the last quarter, insiders purchased 24,000 shares of company stock valued at $4,195 and sold 30,200 shares valued at $2,488,458. 14.70% of the stock is owned by company insiders.
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).
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.