US equity investment life up 10.87% to $40.18 after earnings beat

American Equity Investment Life (AEL) said Monday after the close that it earned $0.98 per share in the second quarter of 2022. The company reported earnings on an adjusted basis, so they may not be directly comparable to analysts’ estimates or prior periods.

As for revenue, the company reported $592.3 million, beating estimates of $45.5 million.

In the same quarter a year ago, the company earned $0.98 per share on revenue of $499.3 million.

The stock is up 10.87% at $40.18 after the report.

The average recommendation from Wall Street analysts was a buy that could be revised based on this new data.

Trading in the five days leading up to the report earned American Equity Investment Life a neutral sentiment ranking of InvestorsObserver.

Before the report InvestorsObserver gave the stock an overall rating of 52. Meanwhile, the average Wall Street analyst rated the stock as a buy.

American Equity Investment Life Holding Co is a financial services company. Its principal business is the sale of fixed index and fixed rate annuity products through its subsidiaries, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company. The company is licensed to sell its products in 50 states and the District of Columbia. Its target clientele is made up of people aged 45 to 75 who want to accumulate tax-deferred savings or create a guaranteed lifetime income.

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