Q2 2024 EPS Estimates for American Axle & Manufacturing Holdings, Inc. Lowered by Analyst (NYSE:AXL)

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) – Equities researchers at Zacks Research cut their Q2 2024 earnings per share estimates for shares of American Axle & Manufacturing in a research note issued to investors on Wednesday, May 22nd. Zacks Research analyst R. Department now expects that the auto parts company will post earnings of $0.08 per share for the quarter, down from their previous estimate of $0.09. The consensus estimate for American Axle & Manufacturing’s current full-year earnings is $0.40 per share. Zacks Research also issued estimates for American Axle & Manufacturing’s Q3 2024 earnings at $0.04 EPS, FY2024 earnings at $0.34 EPS, Q2 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.14 EPS, Q4 2025 earnings at $0.10 EPS and FY2025 earnings at $0.49 EPS.

Other research analysts have also issued research reports about the company. UBS Group boosted their price target on American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Citigroup boosted their target price on shares of American Axle & Manufacturing from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Finally, StockNews.com upgraded shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, American Axle & Manufacturing has an average rating of “Hold” and a consensus target price of $8.00.

American Axle & Manufacturing Trading Up 1.2 %

American Axle & Manufacturing stock opened at $7.41 on Thursday. The company has a debt-to-equity ratio of 4.40, a current ratio of 1.69 and a quick ratio of 1.31. The firm has a 50-day moving average of $7.38 and a 200-day moving average of $7.57. The company has a market cap of $871.05 million, a price-to-earnings ratio of -105.84, a P/E/G ratio of 2.31 and a beta of 2.19. American Axle & Manufacturing has a one year low of $6.29 and a one year high of $9.55.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings data on Friday, May 3rd. The auto parts company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.16. American Axle & Manufacturing had a negative net margin of 0.13% and a positive return on equity of 1.92%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis.

Institutional Investors Weigh In On American Axle & Manufacturing

Hedge funds have recently added to or reduced their stakes in the business. Sona Asset Management US LLC acquired a new stake in shares of American Axle & Manufacturing during the 1st quarter worth about $7,102,000. Paloma Partners Management Co acquired a new stake in American Axle & Manufacturing during the first quarter worth approximately $355,000. Whitebox Advisors LLC boosted its holdings in shares of American Axle & Manufacturing by 74.7% during the first quarter. Whitebox Advisors LLC now owns 1,095,642 shares of the auto parts company’s stock worth $8,064,000 after acquiring an additional 468,573 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of American Axle & Manufacturing by 13.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,725 shares of the auto parts company’s stock valued at $241,000 after purchasing an additional 3,862 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of American Axle & Manufacturing during the first quarter worth approximately $229,000. Institutional investors and hedge funds own 91.41% of the company’s stock.

American Axle & Manufacturing Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.