Brokerages predict that Anixter International Inc. (NYSE:AXE) will announce $2.24 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Anixter International’s earnings, with the lowest sales estimate coming in at $2.24 billion and the highest estimate coming in at $2.25 billion. Anixter International posted sales of $2.18 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.8%. The company is scheduled to report its next quarterly earnings results on Tuesday, October 22nd.
On average, analysts expect that Anixter International will report full-year sales of $8.95 billion for the current fiscal year. For the next financial year, analysts forecast that the company will post sales of $9.21 billion, with estimates ranging from $9.18 billion to $9.24 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Anixter International.
Anixter International (NYSE:AXE) last posted its earnings results on Thursday, July 25th. The technology company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.52. The company had revenue of $2.26 billion during 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.53 EPS.
In other Anixter International news, Director Robert J. Eck sold 70,706 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $62.63, for a total value of $4,428,316.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director F Philip Handy sold 2,000 shares of the firm’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 disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in Anixter International by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,097,848 shares of the technology company’s stock valued at $113,934,000 after buying an additional 110,616 shares during the period. Victory Capital Management Inc. increased its holdings in Anixter International by 14.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,881,482 shares of the technology company’s stock valued at $105,570,000 after buying an additional 236,884 shares during the period. Macquarie Group Ltd. increased its holdings in Anixter International by 17.6% in the 4th quarter. Macquarie Group Ltd. now owns 649,700 shares of the technology company’s stock valued at $35,285,000 after buying an additional 97,228 shares during the period. Norges Bank bought a new position in Anixter International in the 4th quarter valued at about $25,805,000. Finally, Bank of New York Mellon Corp increased its holdings in Anixter International by 4.3% in the 4th quarter. Bank of New York Mellon Corp now owns 385,330 shares of the technology company’s stock valued at $20,928,000 after buying an additional 15,967 shares during the period. 85.79% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:AXE traded down $2.13 during mid-day trading on Friday, reaching $60.18. 253,149 shares of the company’s stock were exchanged, compared to its average volume of 137,156. Anixter International has a one year low of $50.05 and a one year high of $74.60. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.24 and a beta of 1.88. The business’s fifty day moving average is $59.12. The company has a quick ratio of 1.16, a current ratio of 2.08 and a debt-to-equity ratio of 0.87.
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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