Zacks: Brokerages Expect Anixter International Inc. (NYSE:AXE) to Announce $1.70 Earnings Per Share

Equities research analysts forecast that Anixter International Inc. (NYSE:AXE) will report earnings of $1.70 per share for the current 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 suggests a positive year over year growth rate of 5.6%. The business is scheduled to announce its next 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 fiscal year. For the next financial year, analysts forecast that the business will report earnings of $7.22 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Anixter International.

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

AXE has been the topic of several recent analyst reports. TheStreet upgraded shares of Anixter International from a “c+” rating to a “b-” rating in a report on Monday, September 16th. Wells Fargo & Co upgraded Anixter International from a “market perform” rating to an “outperform” rating and upped their target price for the company from $70.00 to $90.00 in a research report on Monday, September 23rd. Zacks Investment Research lowered Anixter International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, ValuEngine upgraded Anixter International from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 5th.

In other Anixter International news, CFO Ted A. Dosch sold 400 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $70.00, for a total value of $28,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert J. Eck sold 70,706 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $62.63, for a total value of $4,428,316.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,085 shares of company stock worth $6,183,657. 11.00% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Bridge City Capital LLC boosted its position in Anixter International by 0.5% in the 2nd quarter. Bridge City Capital LLC now owns 32,872 shares of the technology company’s stock worth $1,963,000 after purchasing an additional 162 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Anixter International by 1.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,352 shares of the technology company’s stock worth $678,000 after purchasing an additional 200 shares in the last quarter. United Services Automobile Association lifted its position in shares of Anixter International by 4.8% during the 2nd quarter. United Services Automobile Association now owns 6,324 shares of the technology company’s stock valued at $378,000 after buying an additional 292 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Anixter International by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 44,929 shares of the technology company’s stock valued at $2,683,000 after buying an additional 510 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its position in shares of Anixter International by 0.9% during the 2nd quarter. Alberta Investment Management Corp now owns 77,108 shares of the technology company’s stock valued at $4,604,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 85.99% of the company’s stock.

Shares of AXE traded up $0.62 during mid-day trading on Wednesday, hitting $67.08. 10,241 shares of the company traded hands, compared to its average volume of 173,938. Anixter International has a 1-year low of $50.05 and a 1-year high of $70.63. The company has a quick ratio of 1.16, a current ratio of 2.08 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $2.25 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.22 and a beta of 1.92. The business has a 50 day moving average of $64.13 and a 200 day moving average of $60.08.

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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