$1.99 Billion in Sales Expected for Anixter International Inc. (AXE) This Quarter

Analysts expect Anixter International Inc. (NYSE:AXE) to report $1.99 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Anixter International’s earnings, with the highest sales estimate coming in at $2.00 billion and the lowest estimate coming in at $1.98 billion. Anixter International posted sales of $1.89 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.3%. The company is expected to report its next quarterly earnings results before the market opens on Tuesday, January 30th.

On average, analysts expect that Anixter International will report full year sales of $1.99 billion for the current year, with estimates ranging from $7.90 billion to $7.91 billion. For the next financial year, analysts anticipate that the company will report sales of $8.23 billion per share, with estimates ranging from $8.20 billion to $8.27 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow 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 analysts’ consensus estimates of $1.51 by ($0.21). The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.38 EPS.

A number of research firms recently issued reports on AXE. Zacks Investment Research lowered Anixter International from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. ValuEngine raised shares of Anixter International from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. Finally, TheStreet upgraded shares of Anixter International from a “c+” rating to a “b-” rating in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $86.00.

Anixter International (AXE) traded up $2.45 during mid-day trading on Monday, reaching $79.95. The company’s stock had a trading volume of 278,600 shares, compared to its average volume of 188,869. Anixter International has a one year low of $62.40 and a one year high of $88.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 2.07. The firm has a market capitalization of $2,660.00, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.40 and a beta of 2.03.

In other Anixter International news, VP William Standish sold 1,758 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $65.00, for a total value of $114,270.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert J. Eck sold 11,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $825,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,732 shares of company stock valued at $1,577,404. Corporate insiders own 14.70% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its position in shares of Anixter International by 1.3% in the 2nd quarter. Amalgamated Bank now owns 3,973 shares of the technology company’s stock worth $311,000 after purchasing an additional 51 shares during the period. OxFORD Asset Management LLP increased its stake in Anixter International by 1.5% during the 2nd quarter. OxFORD Asset Management LLP now owns 4,604 shares of the technology company’s stock valued at $360,000 after purchasing an additional 68 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Anixter International by 0.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 24,432 shares of the technology company’s stock worth $1,911,000 after acquiring an additional 203 shares in the last quarter. Aperio Group LLC grew its stake in shares of Anixter International by 9.8% in the 3rd quarter. Aperio Group LLC now owns 7,602 shares of the technology company’s stock worth $646,000 after acquiring an additional 679 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in shares of Anixter International by 110.9% in the 2nd quarter. Advisor Group Inc. now owns 1,354 shares of the technology company’s stock worth $106,000 after acquiring an additional 712 shares in the last quarter. Institutional investors and hedge funds own 87.89% 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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