Axalta Coating Systems Ltd (AXTA) Expected to Announce Earnings of $0.30 Per Share

Wall Street analysts expect that Axalta Coating Systems Ltd (NYSE:AXTA) will report $0.30 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Axalta Coating Systems’ earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.32. Axalta Coating Systems posted earnings per share of $0.26 in the same quarter last year, which indicates a positive year over year growth rate of 15.4%. The company is expected to issue its next quarterly earnings results on Thursday, October 25th.

On average, analysts expect that Axalta Coating Systems will report full-year earnings of $1.27 per share for the current year, with EPS estimates ranging from $1.20 to $1.35. For the next fiscal year, analysts anticipate that the company will post earnings of $1.47 per share, with EPS estimates ranging from $1.33 to $1.65. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that cover Axalta Coating Systems.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Wednesday, July 25th. The specialty chemicals company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Axalta Coating Systems had a net margin of 2.97% and a return on equity of 21.32%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the business earned $0.31 EPS. The company’s revenue was up 10.7% compared to the same quarter last year.

A number of analysts recently commented on AXTA shares. Barclays reiterated a “hold” rating and issued a $32.00 target price on shares of Axalta Coating Systems in a research note on Tuesday, July 31st. Zacks Investment Research upgraded shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. BMO Capital Markets lifted their target price on shares of Axalta Coating Systems from $33.00 to $34.00 and gave the stock a “market perform” rating in a research note on Thursday, April 26th. JPMorgan Chase & Co. cut shares of Axalta Coating Systems from an “overweight” rating to a “neutral” rating and set a $33.00 target price for the company. in a research note on Wednesday, May 30th. Finally, Bank of America upgraded shares of Axalta Coating Systems from an “underperform” rating to a “neutral” rating and set a $35.00 target price for the company in a research note on Friday, April 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.77.

Shares of NYSE:AXTA traded down $0.17 during trading on Tuesday, reaching $30.03. The stock had a trading volume of 2,222,880 shares, compared to its average volume of 1,977,662. Axalta Coating Systems has a one year low of $28.04 and a one year high of $38.20. The stock has a market capitalization of $7.27 billion, a P/E ratio of 25.24, a P/E/G ratio of 1.64 and a beta of 1.28. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.67 and a current ratio of 2.27.

In other Axalta Coating Systems news, VP Sean M. Lannon sold 3,892 shares of Axalta Coating Systems stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $31.12, for a total transaction of $121,119.04. Following the completion of the sale, the vice president now directly owns 25,273 shares in the company, valued at approximately $786,495.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Steven R. Markevich sold 15,332 shares of Axalta Coating Systems stock in a transaction that occurred on Thursday, July 12th. The shares were sold at an average price of $29.81, for a total transaction of $457,046.92. Following the sale, the executive vice president now owns 190,529 shares of the company’s stock, valued at $5,679,669.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 624,840 shares of company stock valued at $19,517,021. Company insiders own 2.30% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Axalta Coating Systems by 5.0% during the 2nd quarter. BlackRock Inc. now owns 11,018,312 shares of the specialty chemicals company’s stock valued at $333,966,000 after purchasing an additional 527,527 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Axalta Coating Systems by 6.1% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 10,889,676 shares of the specialty chemicals company’s stock valued at $328,759,000 after purchasing an additional 629,102 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Axalta Coating Systems by 0.6% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,092,929 shares of the specialty chemicals company’s stock valued at $124,057,000 after purchasing an additional 23,544 shares in the last quarter. FMR LLC increased its holdings in shares of Axalta Coating Systems by 8.1% during the 2nd quarter. FMR LLC now owns 3,723,288 shares of the specialty chemicals company’s stock valued at $112,853,000 after purchasing an additional 279,374 shares in the last quarter. Finally, Parnassus Investments CA increased its holdings in shares of Axalta Coating Systems by 32.5% during the 2nd quarter. Parnassus Investments CA now owns 3,509,561 shares of the specialty chemicals company’s stock valued at $106,375,000 after purchasing an additional 860,061 shares in the last quarter.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

Featured Story: Trading Strategy

Get a free copy of the Zacks research report on Axalta Coating Systems (AXTA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Axalta Coating Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply