American Axle & Manufacturing (NYSE:AXL) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

American Axle & Manufacturing (NYSE:AXL) posted its quarterly earnings results on Friday. The auto parts company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.16, Briefing.com reports. American Axle & Manufacturing had a negative return on equity of 1.78% and a negative net margin of 0.55%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business earned ($0.01) EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. American Axle & Manufacturing updated its FY 2024 guidance to EPS.

American Axle & Manufacturing Price Performance

Shares of NYSE:AXL opened at $7.49 on Monday. The company has a 50-day moving average price of $7.08 and a two-hundred day moving average price of $7.49. American Axle & Manufacturing has a twelve month low of $6.29 and a twelve month high of $9.55. The company has a quick ratio of 1.27, a current ratio of 1.67 and a debt-to-equity ratio of 4.55. The firm has a market capitalization of $880.37 million, a PE ratio of -106.98, a P/E/G ratio of 2.69 and a beta of 2.19.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AXL. UBS Group raised American Axle & Manufacturing from a “sell” rating to a “neutral” rating and set a $7.00 target price on the stock in a research report on Wednesday, February 28th. StockNews.com upgraded shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.