Axalta Coating Systems Ltd Forecasted to Post Q2 2019 Earnings of $0.36 Per Share (NYSE:AXTA)

Axalta Coating Systems Ltd (NYSE:AXTA) – Equities research analysts at Jefferies Financial Group dropped their Q2 2019 earnings per share estimates for Axalta Coating Systems in a research note issued on Tuesday, June 11th. Jefferies Financial Group analyst L. Alexander now forecasts that the specialty chemicals company will post earnings per share of $0.36 for the quarter, down from their previous forecast of $0.46. Jefferies Financial Group also issued estimates for Axalta Coating Systems’ Q3 2019 earnings at $0.47 EPS.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.21 by $0.13. Axalta Coating Systems had a return on equity of 24.42% and a net margin of 3.90%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company earned $0.27 EPS. Axalta Coating Systems’s revenue for the quarter was down 4.0% on a year-over-year basis.

Several other equities research analysts also recently commented on the company. JPMorgan Chase & Co. downgraded Axalta Coating Systems from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $30.00 to $27.00 in a report on Friday, April 26th. BMO Capital Markets set a $32.00 price objective on Axalta Coating Systems and gave the stock a “hold” rating in a report on Friday, April 26th. Finally, Zacks Investment Research upgraded Axalta Coating Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Axalta Coating Systems presently has an average rating of “Hold” and an average target price of $30.09.

NYSE AXTA opened at $25.68 on Thursday. Axalta Coating Systems has a one year low of $21.58 and a one year high of $31.59. The stock has a market capitalization of $6.03 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.30. The company has a quick ratio of 1.60, a current ratio of 2.21 and a debt-to-equity ratio of 2.98.

Several institutional investors have recently added to or reduced their stakes in AXTA. Diamond Hill Capital Management Inc. grew its stake in shares of Axalta Coating Systems by 4.2% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 11,074,847 shares of the specialty chemicals company’s stock valued at $259,373,000 after acquiring an additional 444,255 shares during the period. BlackRock Inc. grew its stake in shares of Axalta Coating Systems by 0.6% during the 4th quarter. BlackRock Inc. now owns 10,945,101 shares of the specialty chemicals company’s stock valued at $256,336,000 after acquiring an additional 64,482 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Axalta Coating Systems by 17.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,704,794 shares of the specialty chemicals company’s stock valued at $133,606,000 after acquiring an additional 844,587 shares during the period. Millennium Management LLC grew its stake in shares of Axalta Coating Systems by 139.8% during the 4th quarter. Millennium Management LLC now owns 5,188,939 shares of the specialty chemicals company’s stock valued at $121,525,000 after acquiring an additional 3,025,348 shares during the period. Finally, Praesidium Investment Management Company LLC grew its stake in shares of Axalta Coating Systems by 3.1% during the 1st quarter. Praesidium Investment Management Company LLC now owns 4,530,688 shares of the specialty chemicals company’s stock valued at $114,219,000 after acquiring an additional 135,808 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

In other Axalta Coating Systems news, Director Charles W. Shaver sold 309,820 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $25.52, for a total transaction of $7,906,606.40. Following the completion of the sale, the director now directly owns 440,775 shares in the company, valued at approximately $11,248,578. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles W. Shaver sold 500,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $25.24, for a total value of $12,620,000.00. Following the sale, the director now owns 492,369 shares of the company’s stock, valued at $12,427,393.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 864,868 shares of company stock valued at $22,074,006. Corporate insiders own 2.10% of the company’s stock.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers 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.

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

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