$1.98 Billion in Sales Expected for Anixter International Inc. (AXE) This Quarter

Analysts predict that Anixter International Inc. (NYSE:AXE) will post $1.98 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Anixter International’s earnings, with estimates ranging from $1.94 billion to $2.00 billion. Anixter International posted sales of $1.89 billion in the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The firm is expected to report its next quarterly earnings report on Tuesday, January 30th.

On average, analysts expect that Anixter International will report full year sales of $1.98 billion for the current financial year, with estimates ranging from $7.85 billion to $7.91 billion. For the next financial year, analysts anticipate that the business will report sales of $8.17 billion per share, with estimates ranging from $8.05 billion to $8.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Anixter International.

Anixter International (NYSE:AXE) last issued its quarterly earnings results on Tuesday, October 24th. The technology company reported $1.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.51 by ($0.21). 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 12.52% and a net margin of 1.86%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 earnings per share.

AXE has been the topic of several research analyst reports. Zacks Investment Research upgraded Anixter International from a “sell” rating to a “hold” rating in a report on Monday, September 11th. TheStreet downgraded Anixter International from a “b-” rating to a “c” rating in a report on Tuesday, November 21st. Finally, ValuEngine upgraded Anixter International from a “hold” rating to a “buy” rating in a report on Friday, December 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $86.00.

Anixter International (NYSE AXE) traded up $0.15 during mid-day trading on Friday, hitting $76.30. The company had a trading volume of 100,600 shares, compared to its average volume of 129,767. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.07 and a quick ratio of 1.17. The stock has a market cap of $2,540.00, a P/E ratio of 17.83, a PEG ratio of 1.33 and a beta of 2.03. Anixter International has a 52-week low of $62.40 and a 52-week high of $88.60.

In related news, CEO Robert J. Eck sold 2,600 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $86.23, for a total transaction of $224,198.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Standish sold 1,758 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $65.00, for a total value of $114,270.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,532 shares of company stock valued at $1,262,866 over the last three months. 14.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXE. Advisor Group Inc. grew its position in Anixter International by 110.9% in the second 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 position in Anixter International in the second quarter valued at $158,000. Riverhead Capital Management LLC grew its position in Anixter International by 77.6% in the second quarter. Riverhead Capital Management LLC now owns 2,131 shares of the technology company’s stock valued at $167,000 after purchasing an additional 931 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Anixter International in the third quarter valued at $209,000. Finally, Flinton Capital Management LLC grew its position in Anixter International by 64.0% in the second quarter. Flinton Capital Management LLC now owns 2,788 shares of the technology company’s stock valued at $218,000 after purchasing an additional 1,088 shares in the last quarter. 87.90% of the stock is owned by hedge funds and other institutional investors.

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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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