Brokerages Expect Axon Enterprise Inc (NASDAQ:AAXN) to Post $0.38 Earnings Per Share

Posted by Chris Copeland on Dec 4th, 2019

Brokerages expect that Axon Enterprise Inc (NASDAQ:AAXN) will announce earnings of $0.38 per share for the current quarter, Zacks reports. Eight analysts have made estimates for Axon Enterprise’s earnings, with estimates ranging from $0.28 to $0.45. The firm is expected to issue its next quarterly earnings results on Tuesday, February 25th.

On average, analysts expect that Axon Enterprise will report full year earnings of $1.00 per share for the current financial year, with EPS estimates ranging from $0.88 to $1.08. For the next year, analysts forecast that the firm will report earnings of $1.28 per share, with EPS estimates ranging from $1.17 to $1.42. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Axon Enterprise.

Axon Enterprise (NASDAQ:AAXN) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Axon Enterprise had a return on equity of 3.20% and a net margin of 3.24%. The company had revenue of $130.84 million for the quarter, compared to analysts’ expectations of $122.72 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The firm’s revenue was up 24.8% on a year-over-year basis.

A number of brokerages have recently issued reports on AAXN. Morgan Stanley boosted their target price on Axon Enterprise from $73.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. BidaskClub upgraded Axon Enterprise from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Imperial Capital increased their price target on Axon Enterprise from $68.00 to $73.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. They noted that the move was a valuation call. Needham & Company LLC raised Axon Enterprise from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Friday, November 8th. Finally, Raymond James downgraded Axon Enterprise from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $73.25.

Shares of AAXN traded down $0.84 during trading hours on Friday, hitting $72.99. 14,027 shares of the company were exchanged, compared to its average volume of 989,437. The company has a market capitalization of $4.38 billion, a PE ratio of 145.98, a PEG ratio of 11.22 and a beta of 0.74. The firm has a fifty day simple moving average of $61.57 and a 200-day simple moving average of $63.39. Axon Enterprise has a one year low of $39.43 and a one year high of $77.66.

In other Axon Enterprise news, Director Mark W. Kroll sold 4,168 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $64.30, for a total transaction of $268,002.40. Following the sale, the director now directly owns 19,493 shares of the company’s stock, valued at approximately $1,253,399.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of AAXN. Baillie Gifford & Co. grew its holdings in shares of Axon Enterprise by 788.1% during the second quarter. Baillie Gifford & Co. now owns 4,348,159 shares of the industrial products company’s stock valued at $279,195,000 after buying an additional 3,858,554 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Axon Enterprise by 54.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 74,590 shares of the industrial products company’s stock valued at $4,989,000 after acquiring an additional 26,359 shares in the last quarter. Cutter & CO Brokerage Inc. acquired a new position in shares of Axon Enterprise in the 2nd quarter valued at about $472,000. SG Americas Securities LLC increased its holdings in shares of Axon Enterprise by 164.2% in the 3rd quarter. SG Americas Securities LLC now owns 15,302 shares of the industrial products company’s stock valued at $869,000 after purchasing an additional 9,510 shares during the period. Finally, BBT Capital Management LLC purchased a new stake in shares of Axon Enterprise in the second quarter worth approximately $317,000. 88.58% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy weapons (CEWs) worldwide. The company operates through two segments, TASER and Software and Sensors. It offers TASER X26P, TASER X2, TASER 7, and TASER Pulse and Bolt CEWs; and related cartridges. The company also provides on-officer body cameras and Axon Fleet in-car video systems; and Axon Evidence connected software network; Axon Records cloud-based records management system; Axon Signal enabled devices; and computer-aided dispatch software, as well as Axon docks, cartridges, and batteries.