Wall Street brokerages forecast that American Equity Investment Life Holding (NYSE:AEL) will announce $508.20 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for American Equity Investment Life’s earnings, with estimates ranging from $501.64 million to $512.15 million. American Equity Investment Life posted sales of $485.60 million in the same quarter last year, which suggests a positive year over year growth rate of 4.7%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 2nd.

On average, analysts expect that American Equity Investment Life will report full year sales of $508.20 million for the current financial year, with estimates ranging from $2.04 billion to $2.09 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.17 billion per share, with estimates ranging from $2.13 billion to $2.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow American Equity Investment Life.

American Equity Investment Life (NYSE:AEL) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.68 by $0.14. American Equity Investment Life had a return on equity of 10.65% and a net margin of 4.49%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $550.89 million. During the same period last year, the company posted $0.63 earnings per share. The firm’s revenue was up 99.0% compared to the same quarter last year.

AEL has been the topic of a number of analyst reports. Royal Bank of Canada lifted their target price on American Equity Investment Life from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. ValuEngine raised American Equity Investment Life from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 22nd. B. Riley reaffirmed a “hold” rating and set a $26.00 target price on shares of American Equity Investment Life in a research report on Wednesday, November 15th. Goldman Sachs Group initiated coverage on American Equity Investment Life in a research report on Wednesday, October 18th. They set a “neutral” rating and a $29.00 target price on the stock. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $38.00 target price on shares of American Equity Investment Life in a research report on Friday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. American Equity Investment Life has an average rating of “Buy” and a consensus target price of $31.00.

Shares of American Equity Investment Life (NYSE AEL) opened at $30.06 on Monday. American Equity Investment Life has a 52-week low of $22.23 and a 52-week high of $35.79. The stock has a market capitalization of $2,685.29, a PE ratio of 15.49 and a beta of 2.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.12 and a current ratio of 0.12.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Suntrust Banks Inc. bought a new stake in American Equity Investment Life in the fourth quarter valued at about $293,000. Citadel Advisors LLC increased its holdings in American Equity Investment Life by 2,735.7% in the fourth quarter. Citadel Advisors LLC now owns 310,541 shares of the financial services provider’s stock valued at $9,543,000 after buying an additional 299,590 shares during the last quarter. FDx Advisors Inc. increased its holdings in American Equity Investment Life by 8.2% in the fourth quarter. FDx Advisors Inc. now owns 28,693 shares of the financial services provider’s stock valued at $882,000 after buying an additional 2,166 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in American Equity Investment Life by 94.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 309,526 shares of the financial services provider’s stock valued at $9,512,000 after buying an additional 150,226 shares during the last quarter. Finally, Employees Retirement System of Texas increased its holdings in American Equity Investment Life by 70.4% in the fourth quarter. Employees Retirement System of Texas now owns 46,000 shares of the financial services provider’s stock valued at $1,414,000 after buying an additional 19,000 shares during the last quarter. 95.48% of the stock is currently owned by institutional investors and hedge funds.

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About American Equity Investment Life

American Equity Investment Life Holding Company is engaged in the development and sale of fixed index and fixed rate annuity products. The Company issues fixed annuity and life insurance products through its life insurance subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company.

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

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