American Axle & Manufacturing (NYSE:AXL) Issues Earnings Results, Beats Estimates By $0.25 EPS

American Axle & Manufacturing (NYSE:AXL) issued its quarterly earnings data on Friday. The auto parts company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.25, Briefing.com reports. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.51 billion. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.11) EPS. American Axle & Manufacturing updated its FY 2024 guidance to EPS.

American Axle & Manufacturing Stock Down 0.9 %

Shares of AXL stock traded down $0.06 during trading on Monday, hitting $6.71. 1,600,018 shares of the company were exchanged, compared to its average volume of 1,578,863. The business’s 50-day simple moving average is $6.07 and its 200 day simple moving average is $6.73. American Axle & Manufacturing has a twelve month low of $5.43 and a twelve month high of $8.99. The firm has a market capitalization of $788.96 million, a price-to-earnings ratio of 27.96 and a beta of 1.95. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.30 and a current ratio of 1.68.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AXL shares. Wolfe Research raised American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. Bank of America boosted their price target on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price objective on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, American Axle & Manufacturing has a consensus rating of “Hold” and a consensus price target of $7.38.

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 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.