Axalta Coating Systems Ltd (AXTA) Expected to Post Earnings of $0.26 Per Share
Analysts forecast that Axalta Coating Systems Ltd (NASDAQ:AXTA) will announce earnings per share (EPS) of $0.26 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Axalta Coating Systems’ earnings, with the highest EPS estimate coming in at $0.35 and the lowest estimate coming in at $0.21. Axalta Coating Systems posted earnings of $0.32 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 18.8%. The business is expected to report its next quarterly earnings results before the market opens on Thursday, October 26th.
On average, analysts expect that Axalta Coating Systems will report full-year earnings of $1.13 per share for the current year, with EPS estimates ranging from $0.73 to $1.35. For the next financial year, analysts expect that the business will report earnings of $1.40 per share, with EPS estimates ranging from $1.22 to $1.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Axalta Coating Systems.
Axalta Coating Systems (NASDAQ:AXTA) last released its earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.08). Axalta Coating Systems had a negative return on equity of 6.61% and a negative net margin of 1.73%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the business earned $0.34 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year.
AXTA has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $37.00 price target on shares of Axalta Coating Systems in a report on Friday, July 14th. Jefferies Group LLC reissued a “buy” rating on shares of Axalta Coating Systems in a research note on Thursday, July 6th. BidaskClub raised shares of Axalta Coating Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Citigroup Inc. reduced their price objective on shares of Axalta Coating Systems from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. Finally, Nomura raised shares of Axalta Coating Systems to a “buy” rating and reduced their price objective for the company from $30.00 to $28.00 in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Axalta Coating Systems currently has an average rating of “Hold” and an average target price of $32.14.
In other Axalta Coating Systems news, EVP Steven R. Markevich sold 160,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $29.37, for a total transaction of $4,699,200.00. Following the completion of the transaction, the executive vice president now directly owns 280,377 shares of the company’s stock, valued at approximately $8,234,672.49. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael A. Cash sold 34,874 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $30.00, for a total transaction of $1,046,220.00. The disclosure for this sale can be found here. Insiders sold 195,774 shares of company stock valued at $5,771,898 in the last three months.
A number of hedge funds have recently made changes to their positions in the business. Aristotle Capital Management LLC grew its holdings in Axalta Coating Systems by 0.3% during the 1st quarter. Aristotle Capital Management LLC now owns 70,900 shares of the specialty chemicals company’s stock worth $2,283,000 after acquiring an additional 180 shares in the last quarter. HighTower Advisors LLC grew its holdings in Axalta Coating Systems by 1.4% during the 1st quarter. HighTower Advisors LLC now owns 15,520 shares of the specialty chemicals company’s stock worth $499,000 after acquiring an additional 209 shares in the last quarter. Financial Counselors Inc. lifted its position in shares of Axalta Coating Systems by 3.3% in the 2nd quarter. Financial Counselors Inc. now owns 7,145 shares of the specialty chemicals company’s stock worth $229,000 after buying an additional 225 shares during the last quarter. RiverPoint Capital Management LLC lifted its position in shares of Axalta Coating Systems by 1.9% in the 2nd quarter. RiverPoint Capital Management LLC now owns 12,940 shares of the specialty chemicals company’s stock worth $415,000 after buying an additional 245 shares during the last quarter. Finally, Investment Counselors of Maryland LLC lifted its position in shares of Axalta Coating Systems by 0.7% in the 2nd quarter. Investment Counselors of Maryland LLC now owns 51,401 shares of the specialty chemicals company’s stock worth $1,647,000 after buying an additional 375 shares during the last quarter.
Axalta Coating Systems (NASDAQ:AXTA) opened at 28.27 on Friday. Axalta Coating Systems has a 1-year low of $24.27 and a 1-year high of $34.10. The firm has a 50-day moving average of $29.13 and a 200-day moving average of $30.97. The stock has a market capitalization of $6.87 billion and a price-to-earnings ratio of 2827.00.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Axalta Coating Systems Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems Ltd and related stocks with our FREE daily email newsletter.