We See Anixter’s Big Sell-Off After Disappointing 3Q Results as a Buying Opportunity; FVE Still $103
Anixter shares plunged on Oct. 24 after the narrow-moat distributor reported third-quarter sales and earnings that missed consensus estimates. Amazon’s launch of Business Prime Shipping on the same day as Anixter’s earnings release likely contributed to the sell-off. Total sales grew just over 3% year over year to a third-quarter record of $2.02 billion (versus $2.06 billion consensus), but adjusted EPS decreased 6% to $1.30 (versus $1.49 consensus). Although we share the market’s disappointment...Anixter International is engaged in the distribution of network and security solutions, electrical and electronic solutions, and utility power solutions through Anixter Inc. and its subsidiaries. The Network and Security Solutions segment supplies products and customized supply chain solutions. The Electrical and Electronic Solutions segment supplies wire and cable, control, lighting and electrical bulk products and customized supply chain solutions. The Utility Power Solutions segment supplies electrical transmission and distribution products, power plant maintenance, repair and operations supplies and smart-grid products, and arranges materials management and procurement outsourcing.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.