American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Expected to Announce Quarterly Sales of $1.35 Billion

Brokerages predict that American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) will post $1.35 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for American Axle & Manufacturing’s earnings. The lowest sales estimate is $1.31 billion and the highest is $1.38 billion. American Axle & Manufacturing posted sales of $1.41 billion during the same quarter last year, which would indicate a negative year over year growth rate of 4.3%. The company is expected to issue its next quarterly earnings report on Friday, October 29th.

On average, analysts expect that American Axle & Manufacturing will report full-year sales of $5.48 billion for the current financial year, with estimates ranging from $5.43 billion to $5.53 billion. For the next financial year, analysts expect that the business will report sales of $5.86 billion, with estimates ranging from $5.60 billion to $6.03 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover American Axle & Manufacturing.

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

Several equities analysts have weighed in on AXL shares. Barclays raised their price objective on American Axle & Manufacturing from $7.00 to $8.00 and gave the company an “underweight” rating in a research note 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 objective on the stock. in a research note on Friday, July 9th. Two equities 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.56.

Shares of AXL opened at $8.24 on Wednesday. American Axle & Manufacturing has a 12-month low of $4.82 and a 12-month high of $13.06. The business’s fifty day moving average is $9.17 and its 200 day moving average is $10.09. The company has a quick ratio of 1.35, a current ratio of 1.69 and a debt-to-equity ratio of 7.07. The stock has a market cap of $939.75 million, a P/E ratio of 4.71, a P/E/G ratio of 0.68 and a beta of 2.49.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in American Axle & Manufacturing by 10,499.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,541,285 shares of the auto parts company’s stock valued at $15,952,000 after buying an additional 1,526,744 shares in the last quarter. BlackRock Inc. grew its holdings in American Axle & Manufacturing by 8.4% during the 1st quarter. BlackRock Inc. now owns 18,961,565 shares of the auto parts company’s stock valued at $183,168,000 after buying an additional 1,462,090 shares in the last quarter. Foundry Partners LLC purchased a new position in American Axle & Manufacturing during the 1st quarter valued at about $7,312,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in American Axle & Manufacturing by 313.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 778,949 shares of the auto parts company’s stock valued at $7,525,000 after buying an additional 590,701 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in American Axle & Manufacturing by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 13,119,416 shares of the auto parts company’s stock valued at $135,785,000 after buying an additional 498,304 shares in the last quarter. 89.08% of the stock is owned by institutional investors.

American Axle & Manufacturing Company Profile

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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