$2.13 Billion in Sales Expected for Anixter International Inc. (AXE) This Quarter

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Wall Street analysts expect Anixter International Inc. (NYSE:AXE) to announce $2.13 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Anixter International’s earnings, with estimates ranging from $2.11 billion to $2.14 billion. Anixter International posted sales of $2.02 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 5.4%. The firm is expected to report its next quarterly earnings report before the market opens on Tuesday, October 23rd.

On average, analysts expect that Anixter International will report full year sales of $8.31 billion for the current fiscal year. For the next year, analysts expect that the firm will post sales of $8.71 billion, with estimates ranging from $8.63 billion to $8.78 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Anixter International.

Anixter International (NYSE:AXE) last issued its quarterly earnings data on Thursday, July 26th. The technology company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.04. Anixter International had a net margin of 1.29% and a return on equity of 12.42%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same period last year, the business posted $1.36 earnings per share. Anixter International’s quarterly revenue was up 6.8% compared to the same quarter last year.

Several brokerages have commented on AXE. ValuEngine upgraded shares of Anixter International from a “strong sell” rating to a “sell” rating in a report on Friday, July 20th. Longbow Research upgraded shares of Anixter International from a “neutral” rating to a “buy” rating in a report on Friday, July 20th. Zacks Investment Research lowered shares of Anixter International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, TheStreet upgraded shares of Anixter International from a “c+” rating to a “b” rating in a report on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.50.

AXE traded down $0.36 on Friday, hitting $63.05. The company had a trading volume of 108,218 shares, compared to its average volume of 177,872. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.65 and a quick ratio of 0.94. Anixter International has a 52-week low of $56.25 and a 52-week high of $88.85. The firm has a market capitalization of $2.35 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.51 and a beta of 2.17.

In other news, Director Robert J. Eck sold 16,642 shares of Anixter International stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $75.00, for a total transaction of $1,248,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.60% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd purchased a new position in shares of Anixter International during the first quarter valued at approximately $160,000. Verition Fund Management LLC purchased a new position in shares of Anixter International during the first quarter valued at approximately $214,000. Suntrust Banks Inc. purchased a new position in shares of Anixter International during the first quarter valued at approximately $215,000. PNC Financial Services Group Inc. lifted its holdings in shares of Anixter International by 33.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the technology company’s stock valued at $185,000 after purchasing an additional 727 shares during the last quarter. Finally, Bridgewater Associates LP bought a new stake in shares of Anixter International during the second quarter valued at approximately $208,000. Hedge funds and other institutional investors own 90.91% of the company’s stock.

Anixter International Company Profile

Anixter International Inc, through its subsidiary, Anixter Inc, distributes enterprise cabling and security solutions, electrical and electronic wire and cable products, and utility power solutions. Its Network & Security Solutions segment offers copper and fiber optic cable and connectivity, access control, video surveillance, intrusion and fire/life safety, cabinet, power, cable management, wireless, professional audio/video, voice and networking switche, and other ancillary products for technology, finance, telecommunications service provider, transportation, education, government, healthcare, and retail industries.

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