Equities analysts expect Anixter International Inc. (NYSE:AXE) to report sales of $2.03 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Anixter International’s earnings. The highest sales estimate is $2.05 billion and the lowest is $2 billion. Anixter International posted sales of $1.96 billion in the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The business is scheduled to announce its next quarterly earnings report on Tuesday, July 25th.
On average, analysts expect that Anixter International will report full-year sales of $2.03 billion for the current year, with estimates ranging from $7.81 billion to $7.97 billion. For the next fiscal year, analysts forecast that the firm will post sales of $8.2 billion per share, with estimates ranging from $8.01 billion to $8.34 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Anixter International.
Anixter International (NYSE:AXE) last posted its quarterly earnings results on Tuesday, April 25th. The technology company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Anixter International had a net margin of 1.58% and a return on equity of 13.11%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share.
A number of research firms have issued reports on AXE. Zacks Investment Research raised shares of Anixter International from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Friday, April 28th. Wells Fargo & Co began coverage on shares of Anixter International in a research note on Tuesday, March 21st. They set a “market perform” rating for the company. Finally, Imperial Capital lowered shares of Anixter International from an “outperform” rating to an “in-line” rating and boosted their target price for the company from $72.00 to $88.00 in a research note on Thursday, February 2nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $91.00.
In other news, Director F Philip Handy sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $83.97, for a total value of $1,679,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert J. Eck sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $80.87, for a total transaction of $404,350.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,000 shares of company stock valued at $2,723,840. Company insiders own 14.60% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Tyers Asset Management LLC bought a new stake in shares of Anixter International during the fourth quarter worth $118,000. Acrospire Investment Management LLC raised its stake in shares of Anixter International by 100.0% in the first quarter. Acrospire Investment Management LLC now owns 1,600 shares of the technology company’s stock worth $127,000 after buying an additional 800 shares in the last quarter. Flinton Capital Management LLC bought a new stake in shares of Anixter International during the fourth quarter worth $143,000. Cantab Capital Partners LLP bought a new stake in shares of Anixter International during the fourth quarter worth $186,000. Finally, Dubuque Bank & Trust Co. bought a new stake in shares of Anixter International during the first quarter worth $245,000. 84.73% of the stock is owned by institutional investors.
Anixter International (NYSE:AXE) traded down 0.06% on Friday, reaching $80.25. 52,082 shares of the company traded hands. The company has a market capitalization of $2.67 billion, a P/E ratio of 21.05 and a beta of 1.99. The company has a 50-day moving average price of $79.50 and a 200-day moving average price of $78.49. Anixter International has a 12 month low of $51.49 and a 12 month high of $88.00.
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About Anixter International
Anixter International Inc is engaged in the distribution of enterprise cabling and security solutions, electrical and electronic wire and cable products and utility power solutions. The Company operates through three segments: Network & Security Solutions (NSS), Electrical & Electronic Solutions (EES), and Utility Power Solutions (UPS).
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