Zacks: Analysts Expect Axos Financial Inc (NYSE:AX) Will Post Quarterly Sales of $130.82 Million

Brokerages forecast that Axos Financial Inc (NYSE:AX) will report $130.82 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Axos Financial’s earnings, with the highest sales estimate coming in at $132.14 million and the lowest estimate coming in at $130.00 million. Axos Financial reported sales of $109.61 million in the same quarter last year, which would suggest a positive year over year growth rate of 19.4%. The company is scheduled to report its next earnings results on Tuesday, February 4th.

According to Zacks, analysts expect that Axos Financial will report full-year sales of $560.50 million for the current year, with estimates ranging from $551.30 million to $566.57 million. For the next year, analysts expect that the company will post sales of $603.19 million, with estimates ranging from $588.00 million to $617.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Axos Financial.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The business had revenue of $124.84 million during the quarter, compared to analysts’ expectations of $124.87 million. Axos Financial had a return on equity of 16.66% and a net margin of 23.48%. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period last year, the firm posted $0.61 EPS.

AX has been the subject of several analyst reports. Zacks Investment Research raised Axos Financial from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Compass Point raised Axos Financial from a “neutral” rating to a “buy” rating in a report on Wednesday, July 31st. ValuEngine raised Axos Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, B. Riley lifted their price objective on Axos Financial from $33.00 to $39.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.00.

NYSE:AX opened at $29.42 on Thursday. The stock has a market cap of $1.84 billion, a P/E ratio of 10.70 and a beta of 1.01. The stock has a 50 day simple moving average of $28.75 and a 200 day simple moving average of $28.00. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.42. Axos Financial has a 1-year low of $23.87 and a 1-year high of $33.52.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in Axos Financial by 1.0% during the 2nd quarter. BlackRock Inc. now owns 8,574,826 shares of the company’s stock worth $233,664,000 after acquiring an additional 89,054 shares during the last quarter. Invesco Ltd. grew its position in Axos Financial by 2.4% during the 2nd quarter. Invesco Ltd. now owns 1,102,605 shares of the company’s stock worth $30,046,000 after acquiring an additional 25,626 shares during the last quarter. Northern Trust Corp grew its position in Axos Financial by 11.6% during the 2nd quarter. Northern Trust Corp now owns 916,024 shares of the company’s stock worth $24,962,000 after acquiring an additional 95,471 shares during the last quarter. Pembroke Management LTD bought a new stake in Axos Financial during the 2nd quarter worth $23,490,000. Finally, Bank of New York Mellon Corp grew its position in Axos Financial by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 853,051 shares of the company’s stock worth $23,246,000 after acquiring an additional 5,461 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Axos Financial Company Profile

Axos Financial, Inc operates as the holding company for BofI Federal Bank that provides consumer and business banking products in the United States. The company offers deposits products, including consumer and business checking, demand, savings, and time deposit accounts. It also provides single family and multifamily mortgage secured lending products; commercial real estate secured and commercial lending products; specialty finance factoring products; prime loans to customers secured by new and used automobiles; and term unsecured personal loans to individual borrowers, as well as overdraft lines of credit.

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Earnings History and Estimates for Axos Financial (NYSE:AX)

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