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

Axalta Coating Systems (NYSE:AXTA) issued its quarterly earnings results on Wednesday. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08, Briefing.com reports. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business posted $0.45 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. Axalta Coating Systems updated its FY 2024 guidance to 2.150-2.150 EPS and its FY24 guidance to $2.15 EPS.

Axalta Coating Systems Trading Down 1.0 %

NYSE AXTA traded down $0.40 during trading hours on Thursday, hitting $37.92. 3,433,130 shares of the company’s stock were exchanged, compared to its average volume of 2,040,696. The firm has a market capitalization of $8.37 billion, a P/E ratio of 34.20, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.70 and a current ratio of 2.26. The business’s 50 day moving average is $35.86 and its 200-day moving average is $34.99. Axalta Coating Systems has a 12-month low of $25.92 and a 12-month high of $38.77.

Analyst Upgrades and Downgrades

AXTA has been the topic of several recent analyst reports. Barclays upped their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Robert W. Baird upped their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. UBS Group lowered their target price on shares of Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Royal Bank of Canada upped their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, Mizuho increased their price target on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.30.

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.