American Axle & Manufacturing Holdings, Inc. (AXL) to Post FY2017 Earnings of $3.27 Per Share, KeyCorp Forecasts

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) – Investment analysts at KeyCorp upped their FY2017 earnings estimates for American Axle & Manufacturing Holdings in a research report issued to clients and investors on Friday. KeyCorp analyst B. Hoselton now forecasts that the auto parts company will earn $3.27 per share for the year, up from their previous forecast of $3.24. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for American Axle & Manufacturing Holdings’ FY2018 earnings at $3.29 EPS.

American Axle & Manufacturing Holdings (NYSE:AXL) last released its earnings results on Friday, July 28th. The auto parts company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.10. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.74 billion. American Axle & Manufacturing Holdings had a net margin of 5.32% and a return on equity of 42.42%. The company’s revenue was up 71.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS.

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Several other equities analysts have also commented on AXL. BidaskClub lowered American Axle & Manufacturing Holdings from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Guggenheim assumed coverage on American Axle & Manufacturing Holdings in a research note on Wednesday, June 21st. They issued a “buy” rating and a $18.00 target price on the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $22.00 target price (down previously from $24.00) on shares of American Axle & Manufacturing Holdings in a research note on Thursday, June 22nd. CLSA assumed coverage on American Axle & Manufacturing Holdings in a research note on Thursday, June 22nd. They issued a “buy” rating and a $18.00 target price on the stock. Finally, Zacks Investment Research lowered American Axle & Manufacturing Holdings from a “hold” rating to a “strong sell” rating in a research note on Monday, July 10th. Four analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $19.50.

American Axle & Manufacturing Holdings (NYSE:AXL) traded up 1.23% during mid-day trading on Monday, hitting $18.16. 117,399 shares of the stock were exchanged. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 6.26 and a beta of 1.38. American Axle & Manufacturing Holdings has a 52-week low of $12.61 and a 52-week high of $21.25. The stock has a 50 day moving average of $16.36 and a 200-day moving average of $16.01.

In other news, Director George Thanopoulos sold 125,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $15.03, for a total transaction of $1,878,750.00. Following the sale, the director now owns 1,001,986 shares in the company, valued at $15,059,849.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of AXL. Wells Fargo & Company MN grew its stake in shares of American Axle & Manufacturing Holdings by 80.1% during the first quarter. Wells Fargo & Company MN now owns 160,325 shares of the auto parts company’s stock worth $3,011,000 after acquiring an additional 71,294 shares during the last quarter. Swiss National Bank grew its stake in shares of American Axle & Manufacturing Holdings by 3.7% during the first quarter. Swiss National Bank now owns 119,600 shares of the auto parts company’s stock worth $2,246,000 after acquiring an additional 4,300 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of American Axle & Manufacturing Holdings by 5.0% during the first quarter. UBS Asset Management Americas Inc. now owns 54,268 shares of the auto parts company’s stock worth $1,019,000 after acquiring an additional 2,582 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of American Axle & Manufacturing Holdings during the first quarter worth about $124,000. Finally, Mason Street Advisors LLC grew its stake in shares of American Axle & Manufacturing Holdings by 7.0% during the first quarter. Mason Street Advisors LLC now owns 17,883 shares of the auto parts company’s stock worth $336,000 after acquiring an additional 1,173 shares during the last quarter.

About American Axle & Manufacturing Holdings

American Axle & Manufacturing Holdings, Inc (AAM) manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles, crossover vehicles, passenger cars and commercial vehicles. Its driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels.

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

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