Axalta Coating Systems (NYSE:AXTA) Releases FY 2024 Earnings Guidance

Axalta Coating Systems (NYSE:AXTA) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.150-2.150 for the period, compared to the consensus estimate of 2.060. The company issued revenue guidance of $5.3 billion-$5.3 billion, compared to the consensus revenue estimate of $5.3 billion. Axalta Coating Systems also updated its FY24 guidance to $2.15 EPS.

Axalta Coating Systems Trading Up 0.2 %

Shares of NYSE:AXTA traded up $0.08 during mid-day trading on Friday, reaching $38.00. The stock had a trading volume of 2,857,784 shares, compared to its average volume of 2,044,568. The firm has a market cap of $8.33 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.44. The firm has a 50 day simple moving average of $35.92 and a two-hundred day simple moving average of $35.01. The company has a current ratio of 2.00, a quick ratio of 1.70 and a debt-to-equity ratio of 1.80. Axalta Coating Systems has a twelve month low of $28.69 and a twelve month high of $38.77.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.08. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm 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 company posted $0.45 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts predict that Axalta Coating Systems will post 2.06 EPS for the current fiscal year.

Analyst Ratings Changes

AXTA has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Barclays raised their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group cut their price target 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. Robert W. Baird raised their price objective on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada upped their target price on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.70.

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.