Axalta Coating Systems Ltd (NASDAQ:AXTA) Expected to Post Earnings of $0.39 Per Share
Wall Street analysts expect Axalta Coating Systems Ltd (NASDAQ:AXTA) to post earnings per share (EPS) of $0.39 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Axalta Coating Systems’ earnings. The lowest EPS estimate is $0.35 and the highest is $0.43. Axalta Coating Systems reported earnings of $0.34 per share in the same quarter last year, which would indicate a positive year over year growth rate of 14.7%. The firm is expected to report its next earnings report on Tuesday, July 25th.
On average, analysts expect that Axalta Coating Systems will report full-year earnings of $1.42 per share for the current year, with EPS estimates ranging from $1.32 to $1.50. For the next financial year, analysts anticipate that the business will report earnings of $1.64 per share, with EPS estimates ranging from $1.52 to $1.75. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Axalta Coating Systems.
Axalta Coating Systems (NASDAQ:AXTA) last posted its quarterly earnings results on Wednesday, April 26th. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $994.43 million. Axalta Coating Systems had a net margin of 6.50% and a return on equity of 21.46%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share.
A number of analysts recently commented on AXTA shares. Zacks Investment Research upgraded Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Wednesday, June 28th. Citigroup Inc. restated a “neutral” rating and set a $33.00 target price (up from $30.00) on shares of Axalta Coating Systems in a research report on Friday, April 14th. Nomura lowered Axalta Coating Systems from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a research report on Friday, April 21st. Royal Bank Of Canada boosted their target price on Axalta Coating Systems from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 15th. Finally, TheStreet upgraded Axalta Coating Systems from a “c” rating to a “b” rating in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.53.
Shares of Axalta Coating Systems (NASDAQ AXTA) traded up 1.10% during mid-day trading on Friday, hitting $33.07. 373,815 shares of the company’s stock were exchanged. The company has a market capitalization of $8.01 billion and a price-to-earnings ratio of 109.50. Axalta Coating Systems has a 52 week low of $24.27 and a 52 week high of $34.10. The firm has a 50 day moving average price of $32.29 and a 200-day moving average price of $30.42.
In related news, CEO Charles W. Shaver sold 179,487 shares of Axalta Coating Systems stock in a transaction on Monday, May 15th. The stock was sold at an average price of $31.32, for a total transaction of $5,621,532.84. Following the sale, the chief executive officer now directly owns 528,907 shares in the company, valued at $16,565,367.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert W. Bryant sold 114,500 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $32.13, for a total value of $3,678,885.00. Following the completion of the sale, the chief financial officer now owns 328,234 shares in the company, valued at $10,546,158.42. The disclosure for this sale can be found here. Insiders have sold 438,289 shares of company stock valued at $13,874,963 in the last ninety days.
Several institutional investors have recently made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. boosted its position in Axalta Coating Systems by 5.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,772 shares of the specialty chemicals company’s stock valued at $174,000 after buying an additional 294 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Axalta Coating Systems by 16.7% in the first quarter. Daiwa Securities Group Inc. now owns 6,300 shares of the specialty chemicals company’s stock valued at $203,000 after buying an additional 900 shares during the last quarter. Prudential Financial Inc. acquired a new position in Axalta Coating Systems during the first quarter valued at approximately $210,000. Comerica Bank acquired a new position in Axalta Coating Systems during the fourth quarter valued at approximately $218,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Axalta Coating Systems by 46.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,900 shares of the specialty chemicals company’s stock valued at $222,000 after buying an additional 2,200 shares during the last quarter.
About Axalta Coating Systems
Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base.
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