Axalta Coating Systems (NYSE:AXTA) Issues FY 2024 Earnings Guidance

Axalta Coating Systems (NYSE:AXTA) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.900-2.000 for the period. The company issued revenue guidance of -. Axalta Coating Systems also updated its FY24 guidance to $1.90-$2.00 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Mizuho dropped their target price on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating for the company in a report on Thursday. BMO Capital Markets increased their target price on shares of Axalta Coating Systems from $42.00 to $45.00 and gave the stock an outperform rating in a research report on Thursday. Citigroup lifted their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Wolfe Research initiated coverage on Axalta Coating Systems in a research report on Friday, March 1st. They set a peer perform rating on the stock. Finally, Wells Fargo & Company lifted their price objective on Axalta Coating Systems from $31.00 to $33.00 and gave the company an equal weight rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $38.00.

Axalta Coating Systems Price Performance

AXTA stock traded up $0.37 during trading on Friday, reaching $35.20. 3,991,263 shares of the company were exchanged, compared to its average volume of 2,581,191. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 1.08 and a beta of 1.51. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.46. The company has a 50-day moving average of $32.78 and a two-hundred day moving average of $31.82. Axalta Coating Systems has a twelve month low of $25.03 and a twelve month high of $35.31.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.08. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. Axalta Coating Systems’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. As a group, equities analysts predict that Axalta Coating Systems will post 1.98 earnings per share for the current fiscal year.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through two segments, Performance Coatings and Mobility Coatings.