American Axle & Manufacturing Holdings, Inc. Expected to Post Q2 2024 Earnings of $0.08 Per Share (NYSE:AXL)

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) – Zacks Research reduced their Q2 2024 earnings per share estimates for shares of American Axle & Manufacturing in a note issued to investors on Wednesday, May 22nd. Zacks Research analyst R. Department now anticipates that the auto parts company will earn $0.08 per share for the quarter, down from their prior estimate of $0.09. The consensus estimate for American Axle & Manufacturing’s current full-year earnings is $0.38 per share. Zacks Research also issued estimates for American Axle & Manufacturing’s Q3 2024 earnings at $0.04 EPS, FY2024 earnings at $0.34 EPS, Q2 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.14 EPS, Q4 2025 earnings at $0.10 EPS and FY2025 earnings at $0.49 EPS.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings data on Friday, May 3rd. The auto parts company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.16. American Axle & Manufacturing had a positive return on equity of 1.92% and a negative net margin of 0.13%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the firm earned ($0.01) earnings per share. The business’s revenue was up 7.6% on a year-over-year basis.

Other analysts have also recently issued reports about the stock. Citigroup boosted their price objective on shares of American Axle & Manufacturing from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. StockNews.com raised American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research report on Monday, April 8th. Finally, UBS Group raised their price objective on American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.00.

American Axle & Manufacturing Price Performance

American Axle & Manufacturing stock opened at $7.32 on Thursday. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.31 and a current ratio of 1.69. The company has a market cap of $859.88 million, a price-to-earnings ratio of -104.49, a PEG ratio of 2.51 and a beta of 2.19. American Axle & Manufacturing has a 1 year low of $6.29 and a 1 year high of $9.55. The firm has a 50 day moving average price of $7.36 and a 200 day moving average price of $7.56.

Institutional Investors Weigh In On American Axle & Manufacturing

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of American Axle & Manufacturing by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 14,146,031 shares of the auto parts company’s stock worth $124,627,000 after acquiring an additional 191,737 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in American Axle & Manufacturing by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,669,092 shares of the auto parts company’s stock worth $67,565,000 after purchasing an additional 465,585 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of American Axle & Manufacturing by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,076,121 shares of the auto parts company’s stock valued at $27,101,000 after purchasing an additional 187,653 shares in the last quarter. Invesco Ltd. boosted its stake in shares of American Axle & Manufacturing by 3.0% during the 3rd quarter. Invesco Ltd. now owns 2,222,457 shares of the auto parts company’s stock valued at $16,135,000 after buying an additional 65,073 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of American Axle & Manufacturing by 19.0% during the first quarter. Sequoia Financial Advisors LLC now owns 1,912,907 shares of the auto parts company’s stock worth $14,079,000 after buying an additional 304,847 shares in the last quarter. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

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.