Analysts predict American Equity Investment Life Holding (NYSE: AEL) to post quarterly sales of $ 507.28 million
Wall Street brokers expect American Equity Investment Life Holding (NYSE: AEL) to post $ 507.28 million in sales for the current fiscal quarter, according to Zacks investment research. Three analysts estimated American Equity Investment Life earnings, with the highest sales estimate at $ 516.05 million and the lowest estimate at $ 501.35 million. American Equity Investment Life reported sales of $ 521.73 million in the same quarter last year, indicating a negative year-over-year growth rate of 2.8%. The company is expected to release its next quarterly earnings report on Wednesday, February 16.
On average, analysts expect American Equity Investment Life to have annual sales of $ 2.03 billion for the current fiscal year, with estimates ranging from $ 2.02 billion to $ 2.04 billion. For the next fiscal year, analysts predict the company will post sales of $ 2.16 billion, with estimates ranging from $ 2.12 billion to $ 2.20 billion. Zacks’ sales averages are an average based on a survey of research companies that track American Equity Investment Life.
American Equity Investment Life (NYSE: AEL) last reported its results on Monday, November 8. The financial services provider reported earnings per share (EPS) of $ 1.46 for the quarter, beating the Zacks’ consensus estimate of $ 0.76 per $ 0.70. American Equity Investment Life had a net margin of 10.79% and a return on equity of 5.87%. The company posted revenue of $ 542.56 million in the quarter, compared to analysts’ estimates of $ 578.71 million. In the same quarter of the previous year, the company posted EPS of $ 0.99. American Equity Investment Life’s revenues were down 32.1% from the same quarter last year.
A number of analysts have recently published reports on the stock. Truist raised its price target for the American Equity Investment Life stock from $ 39.00 to $ 44.00 and gave the stock a “buy” rating in a research report on Thursday, November 11. Evercore ISI Upgraded American Equity Investment Life Shares From ‘In Line’ To ‘Outperforming’ Rating And Raised Its Price Target For The Company From $ 34.00 To $ 46.00 In A Report research published on Wednesday, January 5. Morgan Stanley raised its price target for American Equity Investment Life shares from $ 35 to $ 38.00 and gave the company an “equal weight” rating in a research report on Friday, January 7. Raymond James raised his price target for American Equity Investment Life shares from $ 40.00 to $ 44.00 and gave the company an “outperformance” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods upgraded American Equity Investment Life from a “market performance” rating to an “outperformance” rating and set a price target of $ 42.00 for the share in a published report. Wednesday, December 1. Four equity research analysts rated the stock with a conservation rating and eight gave the company’s stock a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $ 41.25.
NYSE: AEL open for $ 43.04 Wednesday. The company has a current ratio of 0.34, a quick ratio of 0.34, and a debt ratio of 0.09. American Equity Investment Life has a twelve month low of $ 26.21 and a twelve month high of $ 43.17. The company has a market cap of $ 3.98 billion, a price-to-earnings ratio of 11.99 and a beta of 1.22. The company has a 50-day moving average of $ 37.06 and a 200-day moving average of $ 33.47.
The company also recently disclosed an annual dividend, which was paid on Monday, December 13. Shareholders of record on Monday, November 29 received a dividend of $ 0.34. This is an increase from American Equity Investment Life’s previous annual dividend of $ 0.18. The ex-dividend date of this dividend was Friday, November 26. This represents a dividend yield of 0.97%. American Equity Investment Life’s dividend payout ratio (DPR) is currently 9.47%.
In other American Equity Investment Life news, CEO Anant Bhalla sold 10,214 shares of American Equity Investment Life in a trade on Tuesday, November 30. The shares were sold at an average price of $ 29.64, for a total trade of $ 302,742.96. The transaction was disclosed in a file with the SEC, which can be accessed through this link. In addition, Executive Vice President Jeffrey D. Lorenzen sold 20,000 shares of American Equity Investment Life in a trade on Friday, January 7. The stock was sold at an average price of $ 41.10, for a total trade of $ 822,000.00. Disclosure of this sale can be found here. Company insiders own 1.90% of the company’s shares.
Hedge funds recently changed their positions in the title. River Road Asset Management LLC increased its position in American Equity Investment Life shares by 43.7% during the 3rd quarter. River Road Asset Management LLC now owns 5,321,184 shares of the financial services provider valued at $ 157,347,000 after purchasing an additional 1,617,859 shares during the period. State Street Corp increased its position in American Equity Investment Life shares by 0.6% in the 2nd quarter. State Street Corp now owns 3,277,674 shares of the financial services provider valued at $ 105,934,000 after purchasing an additional 20,005 shares during the period. Goldman Sachs Group Inc. increased its position in American Equity Investment Life shares by 51.0% in the second quarter. Goldman Sachs Group Inc. now owns 2,658,538 shares of the financial services provider valued at $ 85,924,000 after purchasing an additional 897,354 shares during the period. Invesco Ltd. increased its position in American Equity Investment Life shares by 19.3% in the third quarter. Invesco Ltd. now owns 1,676,174 shares of the financial services provider valued at $ 49,565,000 after purchasing an additional 271,562 shares during the period. Finally, Lakewood Capital Management LP increased its position in American Equity Investment Life shares by 4.6% in the second quarter. Lakewood Capital Management LP now owns 1,651,337 shares of the financial services provider valued at $ 53,371,000 after purchasing an additional 73,000 shares during the period. Hedge funds and other institutional investors hold 90.64% of the company’s shares.
American Equity Investment Life Company Profile
American Equity Investment Life Holding Co is engaged in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgages, agricultural mortgages and residential mortgages. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.
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