American Equity Investment Life (NYSE:AEL) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.14, Briefing.com reports. American Equity Investment Life had a net margin of 7.90% and a return on equity of 10.50%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $550.89 million. During the same period in the prior year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was up 99.0% compared to the same quarter last year.
American Equity Investment Life (AEL) traded up $0.29 during trading on Thursday, reaching $30.81. 123,158 shares of the company traded hands, compared to its average volume of 601,347. American Equity Investment Life has a 52-week low of $22.23 and a 52-week high of $35.79. The firm has a market capitalization of $2,721.77, a PE ratio of 10.60 and a beta of 2.50. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.27.
Several research firms have issued reports on AEL. B. Riley reaffirmed a “neutral” rating on shares of American Equity Investment Life in a report on Monday, November 6th. ValuEngine raised shares of American Equity Investment Life from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Royal Bank of Canada raised their price target on shares of American Equity Investment Life from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Finally, Goldman Sachs Group assumed coverage on shares of American Equity Investment Life in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $29.00 price target on the stock. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.83.
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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