American Axle & Manufacturing (NYSE:AXL) Releases Earnings Results

American Axle & Manufacturing (NYSE:AXL) posted its quarterly earnings results on Friday. The auto parts company reported $0.18 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.52 billion. During the same quarter in the previous year, the firm earned ($0.01) EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. 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 quick ratio of 1.27, a current ratio of 1.67 and a debt-to-equity ratio of 4.55. The business’s 50 day moving average is $7.08 and its two-hundred day moving average is $7.49. American Axle & Manufacturing has a 52-week low of $6.29 and a 52-week high of $9.55. 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 Analyst Weigh In

AXL has been the topic of a number of analyst reports. StockNews.com raised shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research note on Monday, April 8th. UBS Group upgraded American Axle & Manufacturing from a “sell” rating to a “neutral” rating and set a $7.00 price objective for the company in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Axle & Manufacturing currently 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.