$1.87 Billion in Sales Expected for American Axle (AXL) This Quarter

Wall Street analysts forecast that American Axle (NYSE:AXL) will post sales of $1.87 billion for the current quarter, Zacks reports. Three analysts have made estimates for American Axle’s earnings, with the lowest sales estimate coming in at $1.83 billion and the highest estimate coming in at $1.90 billion. American Axle reported sales of $1.76 billion in the same quarter last year, which would suggest a positive year over year growth rate of 6.3%. The firm is expected to issue its next earnings report on Friday, July 27th.

On average, analysts expect that American Axle will report full-year sales of $7.14 billion for the current year, with estimates ranging from $7.00 billion to $7.29 billion. For the next financial year, analysts forecast that the firm will report sales of $7.23 billion per share, with estimates ranging from $7.12 billion to $7.37 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that follow American Axle.

American Axle (NYSE:AXL) last issued its quarterly earnings data on Friday, May 4th. The auto parts company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.17. American Axle had a return on equity of 28.46% and a net margin of 4.92%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The business’s revenue for the quarter was up 77.0% compared to the same quarter last year.

A number of brokerages recently commented on AXL. Zacks Investment Research cut American Axle from a “buy” rating to a “hold” rating in a research note on Tuesday, May 8th. ValuEngine cut American Axle from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Citigroup boosted their target price on American Axle to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 8th. Guggenheim reissued a “buy” rating and issued a $21.00 target price on shares of American Axle in a research note on Friday, February 23rd. Finally, Susquehanna Bancshares set a $17.00 target price on American Axle and gave the company a “hold” rating in a research note on Wednesday, March 14th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.22.

In related news, insider Alberto L. Satine sold 25,349 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $15.01, for a total transaction of $380,488.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George Thanopoulos sold 116,901 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $15.79, for a total value of $1,845,866.79. Following the sale, the director now owns 181,812 shares in the company, valued at approximately $2,870,811.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 329,751 shares of company stock worth $5,138,985. Corporate insiders own 0.96% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Preferred LLC grew its position in shares of American Axle by 1,415.1% in the fourth quarter. Advisors Preferred LLC now owns 6,318 shares of the auto parts company’s stock valued at $108,000 after purchasing an additional 5,901 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of American Axle by 128.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,657 shares of the auto parts company’s stock valued at $113,000 after acquiring an additional 3,740 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of American Axle in the 4th quarter valued at $126,000. Point72 Asia Hong Kong Ltd lifted its stake in shares of American Axle by 7,105.7% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 11,457 shares of the auto parts company’s stock valued at $174,000 after acquiring an additional 11,298 shares during the last quarter. Finally, Element Capital Management LLC bought a new position in shares of American Axle in the 1st quarter valued at $181,000.

Shares of American Axle traded down $0.04, reaching $16.36, during trading on Thursday, Marketbeat reports. 815,087 shares of the company were exchanged, compared to its average volume of 2,162,729. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 2.36. American Axle has a twelve month low of $13.38 and a twelve month high of $20.27. The stock has a market cap of $1.83 billion, a PE ratio of 4.36, a price-to-earnings-growth ratio of 0.54 and a beta of 1.38.

American Axle Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products. The company's Driveline segment offers axles, driveshafts, power transfer units, rear drive modules, transfer cases, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.

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Earnings History and Estimates for American Axle (NYSE:AXL)

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