Equities research analysts forecast that American Equity Investment Life Holding (NYSE:AEL) will announce $526.17 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for American Equity Investment Life’s earnings, with the lowest sales estimate coming in at $514.11 million and the highest estimate coming in at $538.22 million. American Equity Investment Life posted sales of $500.20 million during the same quarter last year, which indicates a positive year over year growth rate of 5.2%. The firm is expected to issue its next earnings results after the market closes on Monday, November 5th.
On average, analysts expect that American Equity Investment Life will report full year sales of $2.11 billion for the current fiscal year, with estimates ranging from $2.08 billion to $2.13 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.24 billion, with estimates ranging from $2.16 billion to $2.32 billion. Zacks’ 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 earnings results on Monday, August 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.10. The firm had revenue of $685.50 million during the quarter, compared to analyst estimates of $589.40 million. American Equity Investment Life had a return on equity of 12.32% and a net margin of 11.14%. American Equity Investment Life’s revenue was down 16.3% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share.
AEL has been the subject of a number of recent research reports. Zacks Investment Research lowered American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. Sandler O’Neill reiterated a “buy” rating and issued a $41.00 target price on shares of American Equity Investment Life in a report on Friday, July 13th. ValuEngine lowered American Equity Investment Life from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Finally, Royal Bank of Canada set a $38.00 target price on American Equity Investment Life and gave the company a “buy” rating in a report on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $35.14.
A number of hedge funds and other institutional investors have recently made changes to their positions in AEL. Bank of Montreal Can increased its position in American Equity Investment Life by 15.0% in the 3rd quarter. Bank of Montreal Can now owns 242,875 shares of the financial services provider’s stock valued at $8,589,000 after acquiring an additional 31,615 shares during the period. Fox Run Management L.L.C. acquired a new position in American Equity Investment Life during the 3rd quarter worth approximately $354,000. United Services Automobile Association increased its position in American Equity Investment Life by 60.8% during the 2nd quarter. United Services Automobile Association now owns 169,789 shares of the financial services provider’s stock worth $6,112,000 after purchasing an additional 64,201 shares during the period. Northern Trust Corp increased its position in American Equity Investment Life by 1.5% during the 2nd quarter. Northern Trust Corp now owns 2,345,397 shares of the financial services provider’s stock worth $84,434,000 after purchasing an additional 33,959 shares during the period. Finally, Putnam Investments LLC acquired a new position in American Equity Investment Life during the 2nd quarter worth approximately $2,200,000. 94.69% of the stock is owned by institutional investors.
NYSE:AEL traded down $0.17 during midday trading on Wednesday, reaching $32.84. The company had a trading volume of 610,292 shares, compared to its average volume of 545,024. The firm has a market cap of $3.19 billion, a PE ratio of 10.39 and a beta of 2.54. American Equity Investment Life has a 12-month low of $27.06 and a 12-month high of $38.56. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.30.
About American Equity Investment Life
American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. The company markets its products through various distribution channels, including national marketing organizations, broker/dealers, banks, and registered investment advisors.
Read More: Why is the conference call important?
Get a free copy of the Zacks research report on American Equity Investment Life (AEL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for American Equity Investment Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Equity Investment Life and related companies with MarketBeat.com's FREE daily email newsletter.