B. Riley Analysts Reduce Earnings Estimates for American Axle & Manufact. Holdings, Inc. (AXL)

B. Riley Analysts Reduce Earnings Estimates for American Axle & Manufact. Holdings, Inc. (AXL)

American Axle & Manufact. Holdings, Inc. (NYSE:AXL) – Stock analysts at B. Riley cut their Q1 2020 earnings per share (EPS) estimates for shares of American Axle & Manufact. in a research report issued to clients and investors on Monday, May 6th. B. Riley analyst C. Horn now forecasts that the auto parts company will post earnings per share of $0.62 for the quarter, down from their prior estimate of $0.68. B. Riley also issued estimates for American Axle & Manufact.’s Q2 2020 earnings at $0.81 EPS, Q3 2020 earnings at $0.81 EPS, Q4 2020 earnings at $0.66 EPS and FY2020 earnings at $2.90 EPS.

AXL has been the topic of several other research reports. Zacks Investment Research downgraded American Axle & Manufact. from a “buy” rating to a “hold” rating in a research report on Thursday, February 21st. ValuEngine upgraded American Axle & Manufact. from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 2nd. TheStreet downgraded American Axle & Manufact. from a “b-” rating to a “c” rating in a research report on Monday, March 25th. Barclays restated a “buy” rating and set a $21.00 target price on shares of American Axle & Manufact. in a research report on Sunday, March 31st. Finally, Royal Bank of Canada upped their price target on shares of American Axle & Manufact. from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Tuesday, February 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. American Axle & Manufact. currently has an average rating of “Hold” and an average price target of $17.63.

NYSE:AXL opened at $12.63 on Wednesday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 3.85, a P/E/G ratio of 0.58 and a beta of 1.65. American Axle & Manufact. has a 1 year low of $10.13 and a 1 year high of $19.34. The company has a current ratio of 1.50, a quick ratio of 1.16 and a debt-to-equity ratio of 2.48.

American Axle & Manufact. (NYSE:AXL) last posted its earnings results on Friday, May 3rd. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. American Axle & Manufact. had a positive return on equity of 18.14% and a negative net margin of 1.48%. The business’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 earnings per share.

In other news, insider Tolga I. Oal sold 14,876 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $14.47, for a total value of $215,255.72. Following the transaction, the insider now owns 97,430 shares of the company’s stock, valued at $1,409,812.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Alberto L. Satine sold 15,033 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $16.75, for a total transaction of $251,802.75. Following the completion of the transaction, the senior vice president now directly owns 59,420 shares in the company, valued at approximately $995,285. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXL. Bank of New York Mellon Corp increased its stake in American Axle & Manufact. by 6.8% in the third quarter. Bank of New York Mellon Corp now owns 2,015,093 shares of the auto parts company’s stock valued at $35,143,000 after acquiring an additional 128,899 shares during the last quarter. LPL Financial LLC boosted its position in American Axle & Manufact. by 184.1% during the third quarter. LPL Financial LLC now owns 57,211 shares of the auto parts company’s stock valued at $998,000 after buying an additional 37,072 shares during the period. Macquarie Group Ltd. purchased a new stake in American Axle & Manufact. during the third quarter valued at about $750,000. Teachers Advisors LLC boosted its position in American Axle & Manufact. by 2.3% during the third quarter. Teachers Advisors LLC now owns 212,371 shares of the auto parts company’s stock valued at $3,704,000 after buying an additional 4,725 shares during the period. Finally, Nordea Investment Management AB boosted its position in American Axle & Manufact. by 39.8% during the third quarter. Nordea Investment Management AB now owns 268,111 shares of the auto parts company’s stock valued at $4,675,000 after buying an additional 76,324 shares during the period. 98.64% of the stock is currently owned by institutional investors and hedge funds.

About American Axle & Manufact.

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products in the United States, Mexico, South America, China, other Asian countries, Europe, and internationally. The company's Driveline segment offers axles, drive shafts, power transfer units, rear drive modules, transfer cases, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.

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