American Axle & Manufacturing (NYSE:AXL) Releases Earnings Results, Beats Expectations By $0.16 EPS

American Axle & Manufacturing (NYSE:AXL) released its quarterly earnings data on Friday. The auto parts company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.16, Briefing.com reports. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.52 billion. American Axle & Manufacturing had a negative return on equity of 1.78% and a negative net margin of 0.55%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. American Axle & Manufacturing updated its FY 2024 guidance to EPS.

American Axle & Manufacturing Stock Performance

Shares of AXL opened at $7.49 on Monday. American Axle & Manufacturing has a one year low of $6.29 and a one year high of $9.55. The business has a fifty day moving average of $7.08 and a 200 day moving average of $7.49. The company has a debt-to-equity ratio of 4.55, a current ratio of 1.67 and a quick ratio of 1.27. The firm has a market capitalization of $880.37 million, a P/E ratio of -106.98, a PEG ratio of 2.69 and a beta of 2.19.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AXL. StockNews.com upgraded shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research report on Monday, April 8th. UBS Group raised shares of American Axle & Manufacturing from a “sell” rating to a “neutral” rating and set a $7.00 target price for the company in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.70.

American Axle & Manufacturing Company Profile

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 two segments, 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.