American Axle & Manufacturing (NYSE:AXL – Get Free Report) posted its earnings results on Friday. The auto parts company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.16, Briefing.com reports. American Axle & Manufacturing had a negative net margin of 0.55% and a negative return on equity of 1.78%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the business posted ($0.01) EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. American Axle & Manufacturing updated its FY 2024 guidance to EPS.
American Axle & Manufacturing Stock Up 2.3 %
Shares of NYSE AXL opened at $7.49 on Monday. The company has a debt-to-equity ratio of 4.55, a quick ratio of 1.27 and a current ratio of 1.67. American Axle & Manufacturing has a 1 year low of $6.29 and a 1 year high of $9.55. The stock’s 50-day simple moving average is $7.08 and its 200-day simple moving average is $7.49. The firm has a market cap of $880.37 million, a price-to-earnings ratio of -106.98, a PEG ratio of 2.69 and a beta of 2.19.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on AXL shares. StockNews.com raised American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research report on Monday, April 8th. UBS Group upgraded American Axle & Manufacturing from a “sell” rating to a “neutral” rating and set a $7.00 price target for the company in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.70.
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.
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