Zacks: Brokerages Expect Anixter International Inc. (NYSE:AXE) to Announce $1.53 Earnings Per Share

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Wall Street brokerages expect Anixter International Inc. (NYSE:AXE) to post earnings per share (EPS) of $1.53 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Anixter International’s earnings. The lowest EPS estimate is $1.47 and the highest is $1.59. Anixter International also posted earnings of $1.53 per share in the same quarter last year. The company is expected to report its next earnings report on Thursday, July 25th.

On average, analysts expect that Anixter International will report full-year earnings of $6.17 per share for the current year, with EPS estimates ranging from $6.00 to $6.34. For the next financial year, analysts forecast that the business will report earnings of $6.58 per share, with EPS estimates ranging from $6.50 to $6.65. Zacks’ earnings per share averages are a mean average based on a survey of analysts that cover Anixter International.

Anixter International (NYSE:AXE) last issued its quarterly earnings results on Tuesday, April 23rd. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.17. Anixter International had a net margin of 1.91% and a return on equity of 13.06%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business posted $1.16 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year.

Several research analysts have weighed in on the stock. ValuEngine upgraded shares of Anixter International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 24th. Zacks Investment Research lowered shares of Anixter International from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Finally, TheStreet lowered shares of Anixter International from a “b-” rating to a “c+” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. Anixter International presently has an average rating of “Hold” and an average target price of $70.50.

In other Anixter International news, Director F Philip Handy sold 3,000 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $61.53, for a total transaction of $184,590.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 11.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AXE. Quantamental Technologies LLC purchased a new stake in shares of Anixter International in the fourth quarter valued at about $43,000. Arizona State Retirement System lifted its holdings in shares of Anixter International by 6.2% in the fourth quarter. Arizona State Retirement System now owns 44,343 shares of the technology company’s stock valued at $2,408,000 after purchasing an additional 2,595 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of Anixter International by 27.2% in the fourth quarter. Xact Kapitalforvaltning AB now owns 6,551 shares of the technology company’s stock valued at $356,000 after purchasing an additional 1,400 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Anixter International by 19.9% in the fourth quarter. Rhumbline Advisers now owns 91,655 shares of the technology company’s stock valued at $4,978,000 after purchasing an additional 15,195 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Anixter International by 5.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 11,459 shares of the technology company’s stock valued at $622,000 after purchasing an additional 639 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors.

AXE traded down $0.05 on Monday, hitting $56.95. 148,000 shares of the company were exchanged, compared to its average volume of 181,620. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average price of $58.20. Anixter International has a fifty-two week low of $50.05 and a fifty-two week high of $75.00. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 1.15 and a beta of 1.89.

About Anixter International

Anixter International Inc, through its subsidiary, Anixter Inc, distributes enterprise cabling and security solutions, electrical and electronic wire and cable solutions, and utility power solutions worldwide. The company operates through Network & Security Solutions (NSS), Electrical & Electronic Solutions (EES), and Utility Power Solutions (UPS) segments.

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