Axalta Coating Systems (NYSE:AXTA) Releases Earnings Results, Beats Estimates By $0.08 EPS

Axalta Coating Systems (NYSE:AXTA) posted its quarterly earnings results on Wednesday. The specialty chemicals company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08, Briefing.com reports. Axalta Coating Systems had a net margin of 5.16% and a return on equity of 20.70%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the business posted $0.35 earnings per share. Axalta Coating Systems’s revenue for the quarter was up 1.3% compared to the same quarter last year.

Axalta Coating Systems Stock Performance

Shares of NYSE AXTA traded up $0.80 during mid-day trading on Thursday, hitting $35.01. The company had a trading volume of 1,174,609 shares, compared to its average volume of 2,077,488. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.98 and a quick ratio of 1.46. The business’s 50-day simple moving average is $32.72 and its 200-day simple moving average is $31.80. Axalta Coating Systems has a 12 month low of $25.03 and a 12 month high of $35.21. The firm has a market cap of $7.72 billion, a P/E ratio of 29.16, a PEG ratio of 1.02 and a beta of 1.51.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AXTA shares. Citigroup upped their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Wolfe Research started coverage on shares of Axalta Coating Systems in a report on Friday, March 1st. They issued a “peer perform” rating for the company. BMO Capital Markets upped their price objective on shares of Axalta Coating Systems from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday. UBS Group cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and upped their price target for the company from $35.00 to $36.00 in a report on Monday, January 8th. Finally, Mizuho decreased their price target on shares of Axalta Coating Systems from $40.00 to $38.00 and set a “buy” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.23.

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.