Zacks: Brokerages Expect American Equity Investment Life Holding (AEL) Will Post Quarterly Sales of $514.11 Million

Brokerages predict that American Equity Investment Life Holding (NYSE:AEL) will post $514.11 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for American Equity Investment Life’s earnings. The lowest sales estimate is $510.80 million and the highest is $519.67 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 5.9%. The business is expected to issue its next earnings report on Wednesday, May 2nd.

On average, analysts expect that American Equity Investment Life will report full year sales of $514.11 million for the current year, with estimates ranging from $2.07 billion to $2.13 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.19 billion per share, with estimates ranging from $2.13 billion to $2.27 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow American Equity Investment Life.

How to Become a New Pot Stock Millionaire

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings data on Wednesday, February 7th. 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. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $550.89 million. American Equity Investment Life had a net margin of 4.49% and a return on equity of 10.65%. The business’s revenue for the quarter was up 99.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS.

A number of equities analysts have issued reports on the stock. 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 reiterated a “buy” rating and set a $35.00 target price on shares of American Equity Investment Life in a research note on Friday, December 8th. SunTrust Banks reiterated a “buy” rating and set a $38.00 target price on shares of American Equity Investment Life in a research note on Friday, February 9th. Finally, UBS initiated coverage on American Equity Investment Life in a research note on Friday, March 2nd. They set a “sell” rating and a $30.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $30.88.

In related news, EVP Ronald James Grensteiner sold 28,020 shares of the business’s stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $30.61, for a total value of $857,692.20. Following the sale, the executive vice president now directly owns 122,792 shares in the company, valued at approximately $3,758,663.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John M. Matovina sold 20,000 shares of the business’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $31.85, for a total value of $637,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 206,620 shares of company stock worth $6,382,885 over the last quarter. Company insiders own 4.05% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB bought a new stake in American Equity Investment Life in the 4th quarter valued at about $254,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in American Equity Investment Life in the 4th quarter valued at about $4,072,000. MetLife Investment Advisors LLC bought a new stake in American Equity Investment Life in the 4th quarter valued at about $1,180,000. Gotham Asset Management LLC bought a new stake in American Equity Investment Life in the 4th quarter valued at about $343,000. Finally, Millennium Management LLC raised its stake in American Equity Investment Life by 225.2% in the 4th quarter. Millennium Management LLC now owns 605,285 shares of the financial services provider’s stock valued at $18,600,000 after acquiring an additional 419,164 shares during the period. Institutional investors and hedge funds own 93.49% of the company’s stock.

AEL opened at $29.31 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2,625.40, a price-to-earnings ratio of 9.27 and a beta of 2.45. American Equity Investment Life has a 1 year low of $22.23 and a 1 year high of $35.79.

ILLEGAL ACTIVITY WARNING: “Zacks: Brokerages Expect American Equity Investment Life Holding (AEL) Will Post Quarterly Sales of $514.11 Million” was first posted by Ticker Report and is owned by of Ticker Report. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://www.tickerreport.com/banking-finance/3335240/zacks-brokerages-expect-american-equity-investment-life-holding-ael-will-post-quarterly-sales-of-514-11-million.html.

About American Equity Investment Life

American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. The company markets its products through various distribution channels, including national marketing organizations, broker/dealers, banks, and registered investment advisors.

Get a free copy of the Zacks research report on American Equity Investment Life (AEL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for American Equity Investment Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Equity Investment Life and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Mobile Mini  Posts Quarterly  Earnings Results, Misses Estimates By $0.01 EPS
Mobile Mini Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS
James River Group  Given Coverage Optimism Score of 0.10
James River Group Given Coverage Optimism Score of 0.10
Morgan Stanley Raises M&T Bank  Price Target to $191.00
Morgan Stanley Raises M&T Bank Price Target to $191.00
Stifel Nicolaus Trims Johnson & Johnson  Target Price to $135.00
Stifel Nicolaus Trims Johnson & Johnson Target Price to $135.00
Celanese  PT Raised to $112.00 at Morgan Stanley
Celanese PT Raised to $112.00 at Morgan Stanley
Campbell Soup  Given a $43.00 Price Target by Piper Jaffray Analysts
Campbell Soup Given a $43.00 Price Target by Piper Jaffray Analysts


© 2006-2018 Ticker Report. Google+.