Increased Earnings Estimates Seen for Anixter International (AXE): Can It Move Higher?
Anixter International Inc.AXE is a leading global distributor of communication products that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AXE's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Anixter International could be a solid choice for investors.
Current Quarter Estimates forAXE
In the past 30 days, 3 estimates have gone higher for Anixter International while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from $1.05 a share 30 days ago, to $1.23 today, a move of 17.1%.
Current Year Estimates for AXE
Meanwhile, Anixter International's current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $4.09 per share 30 days ago to $4.57 per share today, an increase of 11.7%.
The stock has also started to move higher lately, adding 19.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.