Axon Slips 2.1% as U.S. Stocks Advance

Axon Enterprise shares fell 2.1% to $413.35 in the latest session, while major U.S. indexes advanced. The S&P 500 gained 0.73%, the Dow rose 0.49% and the Nasdaq added 1.19%.

The decline extended a weak month for the maker of stun guns and body cameras. Axon shares had lost 21.54% over the past month, compared with a 6.63% drop in the Aerospace sector and a 0.55% gain for the S&P 500.

Investors are now watching for the company’s forthcoming earnings report. Analysts expect quarterly earnings of $1.94 per share, up 65.81% from a year earlier, while the latest consensus revenue estimate is $935.35 million, a 31.62% increase.

Zacks consensus estimates call for full-year earnings of $7.88 per share and revenue of $3.68 billion. Those figures would represent year-over-year increases of 15.04% and 32.42%, respectively.

The article also noted that Axon shares traded at a forward price-to-earnings ratio of 53.56, compared with an industry average of 33.53. Its PEG ratio was 2.14, versus 2.03 for the Aerospace - Defense Equipment industry.