Wall Street brokerages predict that American Equity Investment Life Holding (NYSE:AEL) will announce sales of $556.20 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for American Equity Investment Life’s earnings. The lowest sales estimate is $553.59 million and the highest is $558.80 million. American Equity Investment Life posted sales of $512.71 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.5%. The company is expected to report its next quarterly earnings report on Wednesday, February 6th.
On average, analysts expect that American Equity Investment Life will report full year sales of $2.15 billion for the current financial year. For the next financial year, analysts forecast that the company will report sales of $2.32 billion, with estimates ranging from $2.30 billion to $2.34 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for American Equity Investment Life.
American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings results on Monday, November 5th. The financial services provider reported $1.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.99. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $600.27 million. American Equity Investment Life had a net margin of 13.62% and a return on equity of 12.77%. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share.
Separately, ValuEngine upgraded shares of American Equity Investment Life from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. American Equity Investment Life has a consensus rating of “Buy” and a consensus target price of $37.40.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AEL. Point72 Hong Kong Ltd acquired a new position in American Equity Investment Life in the third quarter valued at $161,000. Wakefield Asset Management LLLP acquired a new position in American Equity Investment Life in the third quarter valued at $252,000. Invictus RG acquired a new position in American Equity Investment Life in the third quarter valued at $254,000. Commonwealth Bank of Australia acquired a new position in American Equity Investment Life in the third quarter valued at $272,000. Finally, WINTON GROUP Ltd acquired a new position in American Equity Investment Life in the third quarter valued at $290,000. Institutional investors own 92.88% of the company’s stock.
Shares of AEL stock traded up $0.18 on Friday, reaching $29.44. 35,388 shares of the stock were exchanged, compared to its average volume of 559,138. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.66 billion, a P/E ratio of 9.32 and a beta of 2.39. American Equity Investment Life has a twelve month low of $25.27 and a twelve month high of $38.56.
About American Equity Investment Life
American Equity Investment Life Holding Company, through its subsidiaries, provides life insurance products and services in the United States. The company issues fixed index and rate annuities; and single premium immediate annuities, as well as life insurance products. The company markets its products through various distribution channels, including national marketing organizations, broker/dealers, banks, and registered investment advisors.
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