Zacks: Brokerages Anticipate Anixter International Inc. (NYSE:AXE) Will Post Quarterly Sales of $2.24 Billion

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Equities research analysts forecast that Anixter International Inc. (NYSE:AXE) will report $2.24 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Anixter International’s earnings, with the highest sales estimate coming in at $2.25 billion and the lowest estimate coming in at $2.23 billion. Anixter International reported sales of $2.14 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.7%. The firm is scheduled to announce its next earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Anixter International will report full year sales of $8.89 billion for the current fiscal year, with estimates ranging from $8.82 billion to $8.95 billion. For the next financial year, analysts expect that the business will post sales of $9.17 billion, with estimates ranging from $9.17 billion to $9.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Anixter International.

Anixter International (NYSE:AXE) last posted its 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. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Anixter International had a net margin of 1.91% and a return on equity of 13.06%. Anixter International’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.16 EPS.

AXE has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. ValuEngine upgraded shares of Anixter International from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 24th. Finally, TheStreet cut shares of Anixter International from a “b-” rating to a “c+” rating in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $70.50.

Shares of NYSE AXE traded down $0.61 during mid-day trading on Wednesday, reaching $57.68. 3,633 shares of the company were exchanged, compared to its average volume of 106,332. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.14 and a current ratio of 2.10. The stock has a market cap of $1.92 billion, a PE ratio of 9.96, a P/E/G ratio of 1.15 and a beta of 1.90. Anixter International has a twelve month low of $50.05 and a twelve month high of $75.00.

In other Anixter International news, Director F Philip Handy sold 3,000 shares of Anixter International stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $61.53, for a total value of $184,590.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.00% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of AXE. Quantamental Technologies LLC acquired a new stake in Anixter International in the 4th quarter worth about $43,000. Meeder Asset Management Inc. raised its position in shares of Anixter International by 488.2% in the 1st quarter. Meeder Asset Management Inc. now owns 1,047 shares of the technology company’s stock valued at $60,000 after buying an additional 869 shares in the last quarter. NumerixS Investment Technologies Inc raised its position in shares of Anixter International by 80.0% in the 1st quarter. NumerixS Investment Technologies Inc now owns 1,800 shares of the technology company’s stock valued at $100,000 after buying an additional 800 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Anixter International by 71.7% in the 4th quarter. Acadian Asset Management LLC now owns 2,421 shares of the technology company’s stock valued at $131,000 after buying an additional 1,011 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Anixter International by 5.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,582 shares of the technology company’s stock valued at $195,000 after buying an additional 192 shares in the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

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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