Analysts expect American Equity Investment Life Holding (NYSE:AEL) to report quarterly sales of $552.45 million
Wall Street brokerages predict that American Equity Investment Life Holding (NYSE:AEL – Get a rating) will announce sales of $552.45 million for the current quarter, according to Zacks Investment Research. Four analysts have made earnings estimates for American Equity Investment Life, with estimates ranging from $547.10 million to $560.60 million. American Equity Investment Life recorded sales of $499.32 million in the same quarter last year, indicating a positive year-over-year growth rate of 10.6%. The company is expected to release its next quarterly results on Monday, January 1.
On average, analysts expect American Equity Investment Life to post annual sales of $2.23 billion in the current fiscal year, with estimates ranging from $2.19 billion to $2.26 billion. of dollars. For the next fiscal year, analysts expect the company to report sales of $2.29 billion, with estimates ranging from $2.24 billion to $2.39 billion. Zacks Investment Research sales calculations are an average average based on a survey of research analysts who follow American Equity Investment Life.
Investment in American Life stocks (NYSE:AEL – Get a rating) last reported results on Wednesday, May 4. The financial services provider reported earnings per share of $0.92 for the quarter, missing the consensus estimate of $0.95 per ($0.03). The company posted revenue of $147.80 million for the quarter, compared to $612.85 million expected by analysts. American Equity Investment Life posted a net margin of 26.35% and a return on equity of 7.26%. The company’s revenue decreased by 84.6% compared to the same quarter last year. In the same quarter of the previous year, the company had earned earnings per share of $0.43.
A number of research companies have published reports on AEL. StockNews.com cut shares of American Equity Investment Life from a “buy” rating to a “hold” rating in a Friday, May 20 research report. Zacks Investment Research upgraded American Equity Investment Life from a “sell” rating to a “hold” rating and set a price target of $37.00 for the company in a Tuesday, May 10 research report. Finally, Morgan Stanley raised its price target on American Equity Investment Life from $40.00 to $41.00 and gave the stock an “equal weight” rating in a Tuesday, February 22 research report. Five analysts gave the stock a hold rating and six gave the stock a buy rating. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $42.18.
In related news, EVP Ronald James Grensteiner sold 9,188 shares of the company in a transaction dated Tuesday, April 12. The shares were sold at an average price of $38.31, for a total value of $351,992.28. Following the transaction, the executive vice president now owns 89,039 shares of the company, valued at approximately $3,411,084.09. The sale was disclosed in a document filed with the SEC, accessible via the SEC website. Additionally, director Joyce Ann Chapman sold 3,856 shares of the company in a trade dated Wednesday, March 9. The shares were sold at an average price of $38.26, for a total transaction of $147,530.56. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 29,007 shares of the company worth $1,112,023. Company insiders own 1.90% of the company’s shares.
Institutional investors and hedge funds have recently increased or reduced their stake in the company. Icon Advisers Inc. Co. bought a new stock position in American Equity Investment Life in Q1 for $5,883,000. Virtu Financial LLC bought a new position in American Equity Investment Life in the first quarter, valued at around $217,000. Jane Street Group LLC bought a new position in American Equity Investment Life in the first quarter, valued at approximately $3,019,000. Quantbot Technologies LP bought a new position in American Equity Investment Life in the first quarter for a value of approximately $105,000. Finally, Dynamic Technology Lab Private Ltd acquired during the 1st quarter a new shareholding in American Equity Investment Life valued at approximately $239,000. 95.15% of the shares are held by hedge funds and other institutional investors.
Shares of NYSE AEL opened at $40.09 on Friday. The company’s fifty-day moving average is $38.34 and its 200-day moving average is $38.78. American Equity Investment Life has a 52-week low of $27.12 and a 52-week high of $44.49. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt ratio of 0.11. The company has a market capitalization of $3.73 billion, a price-earnings ratio of 5.42 and a beta of 1.09.
American Equity Investment Life Insurance Company Profile (Get a rating)
American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products in the United States. The company issues index and fixed rate annuities, as well as single premium immediate annuities. It markets its products through independent agents, including independent marketing organizations, broker/dealers, banks and registered investment advisers.
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