American Axle & Manufacturing Holdings, Inc. (NYSE:AXL – Free Report) – Investment analysts at Zacks Research upped their Q2 2023 EPS estimates for American Axle & Manufacturing in a note issued to investors on Wednesday, July 19th. Zacks Research analyst L. Shahu now expects that the auto parts company will earn $0.04 per share for the quarter, up from their prior forecast of $0.02. The consensus estimate for American Axle & Manufacturing’s current full-year earnings is $0.39 per share. Zacks Research also issued estimates for American Axle & Manufacturing’s Q3 2023 earnings at $0.14 EPS, Q4 2023 earnings at $0.16 EPS, FY2023 earnings at $0.33 EPS, Q1 2024 earnings at $0.13 EPS, Q2 2024 earnings at $0.17 EPS, Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.22 EPS, FY2024 earnings at $0.75 EPS, Q1 2025 earnings at $0.21 EPS, Q2 2025 earnings at $0.21 EPS and FY2025 earnings at $0.85 EPS.
Several other brokerages have also recently issued reports on AXL. Citigroup lowered their target price on shares of American Axle & Manufacturing from $9.00 to $8.00 in a report on Tuesday, May 16th. StockNews.com upgraded shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, July 15th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, American Axle & Manufacturing currently has a consensus rating of “Hold” and an average target price of $10.20.
American Axle & Manufacturing Stock Up 0.1 %
American Axle & Manufacturing (NYSE:AXL – Get Free Report) last posted its quarterly earnings data on Friday, May 5th. The auto parts company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.05. American Axle & Manufacturing had a net margin of 0.99% and a return on equity of 8.88%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year.
Hedge Funds Weigh In On American Axle & Manufacturing
Hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of American Axle & Manufacturing by 60,578.4% during the second quarter. FMR LLC now owns 4,169,820 shares of the auto parts company’s stock valued at $31,398,000 after acquiring an additional 4,162,948 shares during the period. Pacer Advisors Inc. acquired a new stake in American Axle & Manufacturing during the 1st quarter worth about $22,541,000. Goldman Sachs Group Inc. raised its holdings in American Axle & Manufacturing by 804.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,835,148 shares of the auto parts company’s stock worth $13,819,000 after buying an additional 1,632,158 shares during the period. Norges Bank acquired a new stake in American Axle & Manufacturing during the 4th quarter worth about $7,125,000. Finally, Fuller & Thaler Asset Management Inc. grew its stake in American Axle & Manufacturing by 22.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,930 shares of the auto parts company’s stock valued at $30,729,000 after acquiring an additional 715,970 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.
About American Axle & Manufacturing
American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, 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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