Zacks: Brokerages Expect Axos Financial, Inc. (NYSE:AX) Will Post Quarterly Sales of $154.83 Million

Wall Street analysts expect Axos Financial, Inc. (NYSE:AX) to report sales of $154.83 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Axos Financial’s earnings, with the lowest sales estimate coming in at $133.80 million and the highest estimate coming in at $163.80 million. Axos Financial reported sales of $180.16 million during the same quarter last year, which indicates a negative year-over-year growth rate of 14.1%. The business is expected to report its next quarterly earnings report on Wednesday, May 5th.

On average, analysts expect that Axos Financial will report full year sales of $624.31 million for the current fiscal year, with estimates ranging from $552.60 million to $646.55 million. For the next fiscal year, analysts forecast that the business will report sales of $648.06 million, with estimates ranging from $563.90 million to $687.71 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Axos Financial.

Axos Financial (NYSE:AX) last posted its earnings results on Wednesday, January 27th. The company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.08. The company had revenue of $162.81 million for the quarter, compared to analyst estimates of $142.35 million. Axos Financial had a net margin of 26.29% and a return on equity of 16.89%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share.

Several brokerages have issued reports on AX. Janney Montgomery Scott started coverage on Axos Financial in a report on Friday, January 15th. They issued a “buy” rating and a $48.00 price target for the company. Raymond James increased their target price on Axos Financial from $32.00 to $48.00 and gave the stock a “strong-buy” rating in a research note on Monday, February 1st. DA Davidson lifted their price target on shares of Axos Financial from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, January 15th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Axos Financial from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, February 2nd. Finally, B. Riley raised their price objective on shares of Axos Financial from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, January 29th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $41.43.

AX opened at $47.83 on Friday. The company has a fifty day simple moving average of $43.59 and a 200 day simple moving average of $33.51. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.62. The stock has a market cap of $2.83 billion, a P/E ratio of 14.90 and a beta of 1.82. Axos Financial has a 12 month low of $13.69 and a 12 month high of $49.39.

In other Axos Financial news, Director Mosich Nick sold 8,000 shares of Axos Financial stock in a transaction on Thursday, February 18th. The shares were sold at an average price of $43.98, for a total value of $351,840.00. Following the sale, the director now directly owns 90,228 shares in the company, valued at approximately $3,968,227.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 13,070 shares of company stock worth $590,429 over the last quarter. 7.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of AX. Public Employees Retirement System of Ohio increased its position in shares of Axos Financial by 43.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,166 shares of the company’s stock worth $27,000 after purchasing an additional 353 shares during the last quarter. Inspire Advisors LLC bought a new position in shares of Axos Financial in the fourth quarter valued at $30,000. Lazard Asset Management LLC acquired a new position in Axos Financial during the fourth quarter worth $44,000. Toronto Dominion Bank bought a new stake in Axos Financial during the fourth quarter worth $46,000. Finally, KBC Group NV acquired a new stake in Axos Financial in the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 75.15% of the company’s stock.

Axos Financial Company Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, and money market accounts. It also provides single family and multifamily mortgage secured lending products; commercial real estate secured loans; automobile and RV secured loans; factoring loans; commercial and industrial loans and leases; and other loans, such as unsecured consumer loans, and other small balance business and consumer loans.

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

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