Equities analysts expect that Anixter International Inc. (NYSE:AXE) will post sales of $2.05 billion for the current quarter, according to Zacks. Three analysts have issued estimates for Anixter International’s earnings, with the highest sales estimate coming in at $2.08 billion and the lowest estimate coming in at $2.01 billion. Anixter International posted sales of $1.96 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 4.6%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, October 24th.
On average, analysts expect that Anixter International will report full year sales of $2.05 billion for the current year, with estimates ranging from $7.85 billion to $8.00 billion. For the next year, analysts anticipate that the business will post sales of $8.22 billion per share, with estimates ranging from $8.05 billion to $8.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Anixter International.
Anixter International (NYSE:AXE) last posted its earnings results on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.36. Anixter International had a net margin of 1.91% and a return on equity of 13.09%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the company posted $1.32 earnings per share. Anixter International’s revenue for the quarter was up 2.3% compared to the same quarter last year.
Several research analysts have commented on AXE shares. Wolfe Research started coverage on shares of Anixter International in a report on Tuesday, July 11th. They set an “outperform” rating and a $88.00 price target for the company. Zacks Investment Research cut shares of Anixter International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 27th. Wells Fargo & Company reiterated a “market perform” rating and set a $82.00 price target (down previously from $89.00) on shares of Anixter International in a report on Wednesday, July 12th. Finally, BidaskClub upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Anixter International presently has a consensus rating of “Hold” and a consensus price target of $86.00.
Shares of Anixter International (AXE) opened at 76.90 on Thursday. The company’s 50-day moving average is $78.28 and its 200-day moving average is $79.54. Anixter International has a 52-week low of $57.96 and a 52-week high of $88.00. The stock has a market cap of $2.56 billion, a PE ratio of 17.57 and a beta of 1.98.
In other Anixter International news, Director Samuel Zell purchased 526,277 shares of Anixter International stock in a transaction that occurred on Wednesday, July 26th. The stock was purchased at an average price of $81.34 per share, for a total transaction of $42,807,371.18. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP William Standish sold 1,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $76.20, for a total transaction of $76,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 556,277 shares of company stock valued at $42,812,881 and have sold 3,000 shares valued at $232,350. 14.70% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC increased its stake in Anixter International by 100.0% in the first quarter. Acrospire Investment Management LLC now owns 1,600 shares of the technology company’s stock valued at $127,000 after buying an additional 800 shares during the period. Quantbot Technologies LP acquired a new stake in Anixter International during the first quarter valued at approximately $144,000. SG Americas Securities LLC acquired a new stake in Anixter International during the second quarter valued at approximately $158,000. Cigna Investments Inc. New acquired a new stake in Anixter International during the second quarter valued at approximately $220,000. Finally, Invictus RG acquired a new stake in Anixter International during the first quarter valued at approximately $230,000. Hedge funds and other institutional investors own 86.46% of the company’s stock.
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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