American Axle & Manufacturing Inc (NYSE:AXL) Reports Quarterly Earnings, Beats Estimates by $0.18 EPS

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American Axle & Manufacturing (NYSE:AXL – Get Rating) reported quarterly earnings data on Friday. The auto parts company reported earnings per share of $0.19 for the quarter, beating the consensus estimate of $0.01 by $0.18, MarketWatch Earnings reports. American Axle & Manufacturing achieved a net margin of 0.11% and a return on equity of 25.36%. The company posted revenue of $1.44 billion for the quarter, compared to analysts’ estimates of $1.36 billion. In the same quarter of the previous year, the company had earned earnings per share of $0.57. The company’s quarterly revenue increased by 0.8% compared to the same quarter last year.

AXL shares opened at $6.95 on Friday. American Axle & Manufacturing has a 52-week low of $6.41 and a 52-week high of $13.06. The company has a 50-day simple moving average of $7.54 and a two-hundred-day simple moving average of $8.60. The company has a market capitalization of $795.64 million, a price-earnings ratio of 231.67, a PEG ratio of 1.36 and a beta of 2.22. The company has a debt ratio of 6.74, a quick ratio of 1.39 and a current ratio of 1.78.

Institutional investors have recently increased or reduced their stake in the company. Janus Henderson Group PLC bought a new position in shares of American Axle & Manufacturing during Q3, valued at around $101,000. Guggenheim Capital LLC purchased a new stake in American Axle & Manufacturing stock during Q4, valued at approximately $163,000. Virtu Financial LLC purchased a new stake in shares of American Axle & Manufacturing during Q4, valued at approximately $168,000. Sei Investments Co. purchased a new stake in shares of American Axle & Manufacturing during Q4, valued at approximately $684,000. Finally, the Tennessee State Treasury Department increased its stake in American Axle & Manufacturing shares by 10.4% during the 4th quarter. The Tennessee State Treasury Department now owns 88,994 shares of the auto parts company valued at $830,000 after buying 8,400 more shares last quarter. 91.73% of the shares are held by hedge funds and other institutional investors.

AXL has been the subject of several recent research reports. Citigroup lowered its price target on shares of American Axle & Manufacturing from $9.00 to $8.00 in a Tuesday, April 5 research report. Zacks Investment Research upgraded American Axle & Manufacturing shares from a “sell” to a “hold” rating and set a target price of $8.50 for the company in a Wednesday, March 16 research report . Morgan Stanley lowered its price target on American Axle & Manufacturing shares from $16.00 to $14.00 and set an “overweight” rating for the company in a Wednesday, April 6 research report. Deutsche Bank Aktiengesellschaft cut its price target on American Axle & Manufacturing shares from $10.00 to $8.00 and set a “holding” rating for the company in a Thursday, April 21 research report . Finally, TheStreet downgraded shares of American Axle & Manufacturing from a “c” rating to a “d+” rating in a Friday, Feb. 11 research report. One equity research analyst gave the stock a sell rating, five gave the stock a hold rating and one gave the stock a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.58.

About American Axle and Manufacturing (Get a rating)

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers and manufactures drivetrain and metal forming technologies that support electric, hybrid and internal combustion vehicles in the United States, Mexico, South America South, China and other Asian countries, and Europe.

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Earnings history for American Axle & Manufacturing (NYSE:AXL)



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