American Axle (AXL) Banks On Business Expansion, Acquisition
Zacks Investment Research | Nov 14, 2017 04:09AM ET
On Nov 13, we issued an updated research report on American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) .
On Nov 3, American Axle reported adjusted earnings per share of 86 cents for third-quarter fiscal 2017 (ended Sep 30, 2017), beating the Zacks Consensus Estimate of 64 cents. Quarterly revenues jumped 71% year over year to $1.72 billion. Also, the top line surpassed the Zacks Consensus Estimate of $1.62 billion.
For fiscal 2017, the company expects sales within the range of $6.2-$6.25 billion compared with the previous projection of approximately $6.1 billion. The raised range is also higher than $3.95 billion, recorded last year.
American Axle & Manufacturing Holdings, Inc. Price and Consensus
industry it belongs to.
Zacks Rank & Other Stocks to Consider
American Axle sports a Zacks Rank #1 (Strong Buy). A few other top-ranked companies in the auto space include Navistar International Corp. (NYSE:NAV) , AB Volvo (OTC:VLVLY) and Allison Transmission Holdings, Inc. (NYSE:ALSN) , each sporting the same bullish Zacks Rank of 1. You can see Zacks Investment Research
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