Zacks: Brokerages Expect American Equity Investment Life Holding (AEL) Will Post Quarterly Sales of $508.20 Million

Equities research analysts forecast that American Equity Investment Life Holding (NYSE:AEL) will report $508.20 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for American Equity Investment Life’s earnings, with the highest sales estimate coming in at $512.15 million and the lowest estimate coming in at $501.64 million. American Equity Investment Life reported sales of $485.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.7%. The firm is scheduled to announce its next earnings report on Wednesday, May 2nd.

According to Zacks, analysts expect that American Equity Investment Life will report full year sales of $508.20 million for the current fiscal year, with estimates ranging from $2.04 billion to $2.09 billion. For the next financial year, analysts expect that the business will post sales of $2.17 billion per share, with estimates ranging from $2.13 billion to $2.21 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow American Equity Investment Life.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.14. American Equity Investment Life had a return on equity of 10.65% and a net margin of 4.49%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $550.89 million. During the same period in the prior year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 99.0% compared to the same quarter last year.

Several research analysts have weighed in on the company. SunTrust Banks restated a “buy” rating and issued a $38.00 price target on shares of American Equity Investment Life in a research note on Friday. ValuEngine downgraded American Equity Investment Life from a “strong-buy” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada upped their price objective on American Equity Investment Life from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. B. Riley reaffirmed a “hold” rating and set a $26.00 price objective on shares of American Equity Investment Life in a report on Wednesday, November 15th. Finally, Goldman Sachs Group started coverage on American Equity Investment Life in a report on Wednesday, October 18th. They set a “neutral” rating and a $29.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. American Equity Investment Life presently has a consensus rating of “Buy” and a consensus price target of $31.00.

A number of large investors have recently added to or reduced their stakes in AEL. Alyeska Investment Group L.P. purchased a new stake in American Equity Investment Life during the 3rd quarter valued at $53,547,000. Hennessy Advisors Inc. purchased a new stake in American Equity Investment Life during the 4th quarter valued at $32,746,000. Schroder Investment Management Group raised its holdings in American Equity Investment Life by 105.9% during the 4th quarter. Schroder Investment Management Group now owns 846,289 shares of the financial services provider’s stock valued at $26,006,000 after buying an additional 435,341 shares during the period. Wells Fargo & Company MN raised its holdings in American Equity Investment Life by 67.7% during the 4th quarter. Wells Fargo & Company MN now owns 853,628 shares of the financial services provider’s stock valued at $26,233,000 after buying an additional 344,654 shares during the period. Finally, LSV Asset Management raised its holdings in American Equity Investment Life by 91.7% during the 4th quarter. LSV Asset Management now owns 677,900 shares of the financial services provider’s stock valued at $20,831,000 after buying an additional 324,300 shares during the period. Institutional investors own 95.48% of the company’s stock.

American Equity Investment Life (AEL) opened at $30.06 on Monday. American Equity Investment Life has a 52 week low of $22.23 and a 52 week high of $35.79. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2,685.29, a P/E ratio of 15.49 and a beta of 2.50.

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About American Equity Investment Life

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its life insurance subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.

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Earnings History and Estimates for American Equity Investment Life (NYSE:AEL)

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