Zacks: Analysts Anticipate American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Will Announce Quarterly Sales of $1.35 Billion

Wall Street analysts predict that American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) will post sales of $1.35 billion for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for American Axle & Manufacturing’s earnings, with the lowest sales estimate coming in at $1.31 billion and the highest estimate coming in at $1.38 billion. American Axle & Manufacturing posted sales of $1.41 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 4.3%. The firm is scheduled to issue its next earnings results on Friday, October 29th.

On average, analysts expect that American Axle & Manufacturing will report full year sales of $5.48 billion for the current year, with estimates ranging from $5.43 billion to $5.53 billion. For the next year, analysts forecast that the company will report sales of $5.86 billion, with estimates ranging from $5.60 billion to $6.03 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for American Axle & Manufacturing.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings results on Thursday, July 29th. The auto parts company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.26. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.18 billion. American Axle & Manufacturing had a return on equity of 76.80% and a net margin of 3.74%. The company’s quarterly revenue was up 149.0% on a year-over-year basis. During the same period in the prior year, the company posted ($1.79) earnings per share.

A number of research firms recently commented on AXL. Barclays upped their price objective on American Axle & Manufacturing from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, July 7th. Zacks Investment Research cut American Axle & Manufacturing from a “strong-buy” rating to a “hold” rating and set a $11.00 price target for the company. in a research report on Friday, July 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.56.

American Axle & Manufacturing stock opened at $8.24 on Wednesday. The stock has a market cap of $939.75 million, a PE ratio of 4.71, a price-to-earnings-growth ratio of 0.68 and a beta of 2.49. The company has a debt-to-equity ratio of 7.07, a quick ratio of 1.35 and a current ratio of 1.69. American Axle & Manufacturing has a one year low of $4.82 and a one year high of $13.06. The stock has a fifty day moving average of $9.17 and a 200 day moving average of $10.09.

Institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC lifted its stake in shares of American Axle & Manufacturing by 7.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 580,314 shares of the auto parts company’s stock valued at $6,006,000 after purchasing an additional 40,490 shares during the last quarter. Morgan Stanley lifted its stake in shares of American Axle & Manufacturing by 47.6% in the 2nd quarter. Morgan Stanley now owns 1,016,084 shares of the auto parts company’s stock valued at $10,517,000 after purchasing an additional 327,835 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of American Axle & Manufacturing by 4.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 292,484 shares of the auto parts company’s stock valued at $3,027,000 after purchasing an additional 13,551 shares during the last quarter. MidWestOne Financial Group Inc. lifted its stake in shares of American Axle & Manufacturing by 73.1% in the 2nd quarter. MidWestOne Financial Group Inc. now owns 113,664 shares of the auto parts company’s stock valued at $1,177,000 after purchasing an additional 48,002 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of American Axle & Manufacturing by 50.7% in the 2nd quarter. Invesco Ltd. now owns 891,209 shares of the auto parts company’s stock valued at $9,224,000 after purchasing an additional 299,896 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the following segments: Driveline and Metal Forming. The Driveline segment consists of axles, drive shafts, power transfer units, rear drive modules, and electric and hybrid driveline products and systems for light trucks, service utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.

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

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