Anixter International Inc. (NYSE:AXE) Expected to Post Earnings of $1.66 Per Share

Brokerages predict that Anixter International Inc. (NYSE:AXE) will post earnings per share (EPS) of $1.66 for the current quarter, according to Zacks. Two analysts have made estimates for Anixter International’s earnings. The lowest EPS estimate is $1.61 and the highest is $1.70. Anixter International reported earnings of $1.61 per share during the same quarter last year, which indicates a positive year over year growth rate of 3.1%. The company is scheduled to issue its next earnings results on Tuesday, October 22nd.

On average, analysts expect that Anixter International will report full year earnings of $6.47 per share for the current year, with EPS estimates ranging from $6.00 to $6.93. For the next year, analysts expect that the business will post earnings of $6.86 per share, with EPS estimates ranging from $6.50 to $7.22. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Anixter International.

Anixter International (NYSE:AXE) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.52. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Anixter International had a net margin of 2.21% and a return on equity of 13.80%. Anixter International’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.53 earnings per share.

A number of research analysts have weighed in on the stock. TheStreet cut shares of Anixter International from a “b-” rating to a “c+” rating in a research report on Thursday, May 23rd. ValuEngine cut shares of Anixter International from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 6th. Finally, Zacks Investment Research raised shares of Anixter International from a “hold” rating to a “strong-buy” rating and set a $74.00 price target on the stock in a research report on Tuesday, July 30th.

AXE stock traded up $2.03 during midday trading on Friday, reaching $57.45. 104,400 shares of the company’s stock traded hands, compared to its average volume of 190,377. The company has a market capitalization of $1.94 billion, a P/E ratio of 9.85, a PEG ratio of 1.10 and a beta of 1.88. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.08 and a quick ratio of 1.16. Anixter International has a fifty-two week low of $50.05 and a fifty-two week high of $73.68. The business has a 50-day moving average price of $59.31 and a two-hundred day moving average price of $58.88.

In other news, Director Robert J. Eck sold 70,706 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $62.63, for a total transaction of $4,428,316.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director F Philip Handy sold 2,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $65.15, for a total transaction of $130,300.00. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Magnetar Financial LLC grew its position in shares of Anixter International by 23.3% during the second quarter. Magnetar Financial LLC now owns 14,782 shares of the technology company’s stock worth $883,000 after acquiring an additional 2,796 shares during the last quarter. Royal Bank of Canada grew its position in shares of Anixter International by 8.5% during the second quarter. Royal Bank of Canada now owns 24,077 shares of the technology company’s stock worth $1,437,000 after acquiring an additional 1,883 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Anixter International by 27.1% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,680 shares of the technology company’s stock worth $279,000 after acquiring an additional 997 shares during the last quarter. United Services Automobile Association grew its position in shares of Anixter International by 4.8% during the second quarter. United Services Automobile Association now owns 6,324 shares of the technology company’s stock worth $378,000 after acquiring an additional 292 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new position in shares of Anixter International during the second quarter worth about $23,623,000. 85.44% of the stock is currently owned by institutional investors and hedge funds.

Anixter International Company Profile

Anixter International Inc, through its subsidiary, Anixter Inc, distributes enterprise cabling and security solutions, electrical and electronic wire and cable solutions, and utility power solutions worldwide. The company operates through Network & Security Solutions (NSS), Electrical & Electronic Solutions (EES), and Utility Power Solutions (UPS) segments.

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