Axalta Coating Systems (NYSE:AXTA) Issues Q2 Earnings Guidance

Axalta Coating Systems (NYSE:AXTA) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.50 for the period, compared to the consensus EPS estimate of $0.47. The company issued revenue guidance of $1.33-$1.39 billion, compared to the consensus revenue estimate of $1.34 billion. Axalta Coating Systems also updated its FY 2024 guidance to 1.900-2.000 EPS.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AXTA. KeyCorp boosted their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an overweight rating in a research note on Thursday. Wells Fargo & Company boosted their target price on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an equal weight rating in a research report on Tuesday, January 9th. Robert W. Baird boosted their target price on Axalta Coating Systems from $35.00 to $40.00 and gave the stock an outperform rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an overweight rating in a research report on Thursday. Finally, Citigroup boosted their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $38.00.

Axalta Coating Systems Stock Up 1.1 %

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

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the firm earned $0.35 earnings per share. Axalta Coating Systems’s quarterly revenue was up 1.3% on a year-over-year basis. On average, research analysts expect that Axalta Coating Systems will post 1.98 earnings per share for the current fiscal year.

About Axalta Coating Systems

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.