Equities Analysts Set Expectations for Axalta Coating Systems Ltd’s Q1 2018 Earnings (AXTA)

Axalta Coating Systems Ltd (NYSE:AXTA) – Seaport Global Securities decreased their Q1 2018 earnings per share (EPS) estimates for shares of Axalta Coating Systems in a report released on Thursday. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will post earnings of $0.22 per share for the quarter, down from their prior forecast of $0.27. Seaport Global Securities also issued estimates for Axalta Coating Systems’ Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.38 EPS, Q4 2018 earnings at $0.41 EPS, Q1 2019 earnings at $0.27 EPS, Q4 2019 earnings at $0.46 EPS and FY2019 earnings at $1.58 EPS.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.05. Axalta Coating Systems had a net margin of 0.84% and a return on equity of 20.93%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned ($0.16) earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis.

A number of other research analysts have also commented on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $35.00 price objective on shares of Axalta Coating Systems in a research note on Thursday. Nomura raised their price objective on shares of Axalta Coating Systems from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday. Credit Suisse Group raised their price objective on shares of Axalta Coating Systems from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday. Bank of America set a $28.00 price objective on shares of Axalta Coating Systems and gave the company an “underperform” rating in a research note on Tuesday, January 16th. Finally, Zacks Investment Research lowered shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.53.

Axalta Coating Systems (NYSE:AXTA) opened at $30.57 on Friday. Axalta Coating Systems has a 12 month low of $27.77 and a 12 month high of $38.20. The company has a current ratio of 2.11, a quick ratio of 1.50 and a debt-to-equity ratio of 2.69. The company has a market cap of $7,590.00, a P/E ratio of 218.36, a P/E/G ratio of 1.62 and a beta of 1.38.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Country Trust Bank purchased a new position in Axalta Coating Systems during the 3rd quarter worth approximately $5,038,000. State Street Corp grew its position in Axalta Coating Systems by 11.2% during the 2nd quarter. State Street Corp now owns 3,642,670 shares of the specialty chemicals company’s stock worth $116,710,000 after purchasing an additional 365,915 shares in the last quarter. Principal Financial Group Inc. grew its position in Axalta Coating Systems by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,309,651 shares of the specialty chemicals company’s stock worth $66,795,000 after purchasing an additional 22,515 shares in the last quarter. State of Wisconsin Investment Board grew its position in Axalta Coating Systems by 31.9% during the 3rd quarter. State of Wisconsin Investment Board now owns 532,080 shares of the specialty chemicals company’s stock worth $15,388,000 after purchasing an additional 128,682 shares in the last quarter. Finally, Marathon Asset Management LLP grew its position in Axalta Coating Systems by 32.8% during the 3rd quarter. Marathon Asset Management LLP now owns 1,250,613 shares of the specialty chemicals company’s stock worth $36,168,000 after purchasing an additional 308,752 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

In other Axalta Coating Systems news, SVP Michael F. Finn sold 3,950 shares of Axalta Coating Systems stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $32.66, for a total transaction of $129,007.00. Following the transaction, the senior vice president now directly owns 108,818 shares in the company, valued at approximately $3,553,995.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles W. Shaver sold 235,810 shares of Axalta Coating Systems stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $30.58, for a total transaction of $7,211,069.80. Following the transaction, the chief executive officer now owns 522,752 shares in the company, valued at $15,985,756.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 473,902 shares of company stock worth $14,498,467. 2.30% of the stock is currently owned by company insiders.

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Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base.

Earnings History and Estimates for Axalta Coating Systems (NYSE:AXTA)

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