Wall Street brokerages predict that Axalta Coating Systems Ltd (NYSE:AXTA) will post earnings of $0.36 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Axalta Coating Systems’ earnings, with the highest EPS estimate coming in at $0.39 and the lowest estimate coming in at $0.31. Axalta Coating Systems posted earnings of $0.31 per share during the same quarter last year, which would suggest a positive year over year growth rate of 16.1%. The firm is scheduled to issue its next earnings results on Thursday, August 2nd.
On average, analysts expect that Axalta Coating Systems will report full-year earnings of $1.31 per share for the current financial year, with EPS estimates ranging from $1.20 to $1.40. For the next financial year, analysts expect that the firm will post earnings of $1.50 per share, with EPS estimates ranging from $1.33 to $1.65. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover Axalta Coating Systems.
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Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, April 25th. The specialty chemicals company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. Axalta Coating Systems had a net margin of 0.94% and a return on equity of 20.56%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company earned $0.26 EPS. Axalta Coating Systems’s revenue was up 15.7% compared to the same quarter last year.
Several analysts recently issued reports on AXTA shares. BMO Capital Markets started coverage on shares of Axalta Coating Systems in a research note on Tuesday, March 27th. They set a “market perform” rating and a $33.00 price objective for the company. Zacks Investment Research raised shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, April 4th. Seaport Global Securities cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 17th. JPMorgan Chase & Co. increased their price target on shares of Axalta Coating Systems from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 26th. Finally, Bank of America raised shares of Axalta Coating Systems from an “underperform” rating to a “neutral” rating and set a $35.00 price target for the company in a research note on Friday, April 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $34.13.
Shares of Axalta Coating Systems opened at $30.51 on Friday, according to MarketBeat Ratings. Axalta Coating Systems has a 12-month low of $27.77 and a 12-month high of $38.20. The stock has a market cap of $7.48 billion, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 1.63 and a beta of 1.31. The company has a debt-to-equity ratio of 2.57, a current ratio of 2.26 and a quick ratio of 1.63.
In other news, VP Sean M. Lannon sold 3,892 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $31.12, for a total value of $121,119.04. Following the transaction, 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 88,479 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $31.32, for a total transaction of $2,771,162.28. Following the completion of the transaction, the executive vice president now owns 323,875 shares in the company, valued at $10,143,765. The disclosure for this sale can be found here. In the last three months, insiders sold 604,588 shares of company stock valued at $18,910,751. Corporate insiders own 2.10% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Quantitative Systematic Strategies LLC acquired a new position in shares of Axalta Coating Systems in the 1st quarter worth approximately $288,000. Advisory Services Network LLC lifted its holdings in shares of Axalta Coating Systems by 5,102.0% in the 4th quarter. Advisory Services Network LLC now owns 22,941 shares of the specialty chemicals company’s stock worth $742,000 after acquiring an additional 22,500 shares during the last quarter. Harvest Management LLC acquired a new stake in Axalta Coating Systems during the 4th quarter worth approximately $955,000. Bronson Point Management LLC acquired a new stake in Axalta Coating Systems during the 4th quarter worth approximately $4,854,000. Finally, California Public Employees Retirement System lifted its holdings in Axalta Coating Systems by 10.8% during the 4th quarter. California Public Employees Retirement System now owns 380,954 shares of the specialty chemicals company’s stock worth $12,328,000 after buying an additional 37,019 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.
About Axalta Coating Systems
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.
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