Anixter International Inc. (NYSE:AXE) Expected to Post Earnings of $1.70 Per Share

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Equities research analysts forecast that Anixter International Inc. (NYSE:AXE) will post $1.70 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Anixter International’s earnings. Anixter International reported earnings of $1.61 per share in the same quarter last year, which would indicate a positive year over year growth rate of 5.6%. The business is expected to report its next quarterly earnings results on Tuesday, October 22nd.

According to Zacks, analysts expect that Anixter International will report full-year earnings of $6.93 per share for the current year. For the next year, analysts expect that the company will post earnings of $7.22 per share. Zacks’ EPS averages are an 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.52. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates 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 for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $1.53 EPS.

A number of research firms have commented on AXE. ValuEngine lowered shares of Anixter International from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 6th. TheStreet lowered shares of Anixter International from a “b-” rating to a “c+” rating in a research note on Thursday, May 23rd. Finally, Zacks Investment Research upgraded shares of Anixter International from a “hold” rating to a “strong-buy” rating and set a $74.00 price objective on the stock in a research note on Tuesday, July 30th.

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

Several institutional investors have recently modified their holdings of AXE. Norges Bank acquired a new position in shares of Anixter International during the fourth quarter worth about $25,805,000. Nuveen Asset Management LLC acquired a new position in shares of Anixter International during the second quarter worth about $23,623,000. Victory Capital Management Inc. increased its stake in shares of Anixter International by 14.4% during the first quarter. Victory Capital Management Inc. now owns 1,881,482 shares of the technology company’s stock worth $105,570,000 after acquiring an additional 236,884 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Anixter International by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,097,848 shares of the technology company’s stock worth $113,934,000 after acquiring an additional 110,616 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Anixter International by 2.1% during the second quarter. BlackRock Inc. now owns 4,704,912 shares of the technology company’s stock worth $280,931,000 after acquiring an additional 95,649 shares during the period. Institutional investors and hedge funds own 85.83% of the company’s stock.

NYSE AXE traded down $2.25 during trading on Friday, reaching $57.09. The company’s stock had a trading volume of 160,420 shares, compared to its average volume of 182,393. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.16 and a current ratio of 2.08. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 9.79, a P/E/G ratio of 1.14 and a beta of 1.88. Anixter International has a twelve month low of $50.05 and a twelve month high of $73.65. The business’s fifty day moving average price is $59.17 and its 200-day moving average price is $58.85.

About Anixter International

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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