Zacks: Brokerages Anticipate American Equity Investment Life Holding (NYSE:AEL) Will Announce Earnings of $0.77 Per Share

Brokerages predict that American Equity Investment Life Holding (NYSE:AEL) will announce earnings of $0.77 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for American Equity Investment Life’s earnings, with the highest EPS estimate coming in at $0.90 and the lowest estimate coming in at $0.53. American Equity Investment Life posted earnings per share of $0.99 in the same quarter last year, which suggests a negative year over year growth rate of 22.2%. The business is expected to announce its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that American Equity Investment Life will report full-year earnings of $3.17 per share for the current financial year, with EPS estimates ranging from $2.79 to $3.45. For the next fiscal year, analysts anticipate that the company will post earnings of $4.73 per share, with EPS estimates ranging from $4.40 to $5.22. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for American Equity Investment Life.

American Equity Investment Life (NYSE:AEL) last posted its quarterly earnings results on Thursday, August 5th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.53 by $0.45. The business had revenue of $499.32 million during the quarter, compared to analysts’ expectations of $483.87 million. American Equity Investment Life had a return on equity of 5.30% and a net margin of 23.38%.

Several equities analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on American Equity Investment Life from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, August 9th. raised their price objective on American Equity Investment Life from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, June 21st. Raymond James raised their price objective on American Equity Investment Life from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, August 11th. Morgan Stanley raised their price objective on American Equity Investment Life from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Friday, August 13th. Finally, Zacks Investment Research downgraded American Equity Investment Life from a “hold” rating to a “strong sell” rating and set a $26.00 price objective for the company. in a research note on Tuesday, July 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.50.

In other American Equity Investment Life news, Director John M. Matovina sold 4,200 shares of the firm’s stock in a transaction on Tuesday, June 22nd. The stock was sold at an average price of $32.26, for a total transaction of $135,492.00. Following the completion of the transaction, the director now owns 137,124 shares of the company’s stock, valued at $4,423,620.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

Several large investors have recently made changes to their positions in AEL. Parametric Portfolio Associates LLC boosted its holdings in American Equity Investment Life by 3.9% in the second quarter. Parametric Portfolio Associates LLC now owns 737,072 shares of the financial services provider’s stock valued at $23,822,000 after acquiring an additional 27,905 shares during the last quarter. Morgan Stanley boosted its holdings in American Equity Investment Life by 19.6% in the second quarter. Morgan Stanley now owns 394,595 shares of the financial services provider’s stock valued at $12,754,000 after acquiring an additional 64,764 shares during the last quarter. Invesco Ltd. boosted its holdings in American Equity Investment Life by 271.3% in the second quarter. Invesco Ltd. now owns 1,404,612 shares of the financial services provider’s stock valued at $45,397,000 after acquiring an additional 1,026,365 shares during the last quarter. Maverick Capital Ltd. acquired a new position in shares of American Equity Investment Life during the second quarter worth about $96,000. Finally, Metropolitan Life Insurance Co NY lifted its stake in shares of American Equity Investment Life by 95,300.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 22,896 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 22,872 shares in the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.

Shares of AEL traded down $0.83 during mid-day trading on Tuesday, hitting $29.51. The company’s stock had a trading volume of 341,197 shares, compared to its average volume of 574,800. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.09. The firm has a 50-day simple moving average of $31.75 and a 200 day simple moving average of $31.42. The firm has a market capitalization of $2.73 billion, a P/E ratio of 3.20 and a beta of 1.21. American Equity Investment Life has a 1-year low of $19.06 and a 1-year high of $34.25.

About American Equity Investment Life

American Equity Investment Life Holding Co engages in the development and sale of fixed index and fixed rate annuity products. It focuses on the following portfolios: commercial mortgage loans, agricultural mortgage loans, and residential mortgage loans. The company was founded by David J. Noble on December 15, 1995 and is headquartered in West Des Moines, IA.

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Earnings History and Estimates for American Equity Investment Life (NYSE:AEL)

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