Axalta Coating Systems (NYSE:AXTA – Get Free Report) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.500-0.500 for the period, compared to the consensus EPS estimate of 0.470. The company issued revenue guidance of $1.3 billion-$1.4 billion, compared to the consensus revenue estimate of $1.3 billion. Axalta Coating Systems also updated its FY 2024 guidance to 1.900-2.000 EPS.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on AXTA. Wells Fargo & Company increased 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. Barclays lifted 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. Mizuho decreased their price objective on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating on the stock in a report on Thursday. Robert W. Baird boosted their price target on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the company an outperform rating in a report on Thursday. Finally, KeyCorp lifted their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a research report on Thursday. One 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. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $38.00.
View Our Latest Report on AXTA
Axalta Coating Systems Trading Up 1.1 %
Axalta Coating Systems (NYSE:AXTA – Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the firm earned $0.35 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Axalta Coating Systems will post 1.9 EPS for the current 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.
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