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

Axalta Coating Systems (NYSE:AXTA) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.150-2.150 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AXTA. Royal Bank of Canada lifted their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Mizuho raised their price target on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays upped their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday. Finally, KeyCorp lifted their target price on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Axalta Coating Systems has a consensus rating of “Moderate Buy” and an average price target of $41.70.

Axalta Coating Systems Stock Performance

AXTA traded up $0.08 during midday trading on Friday, reaching $38.00. The company’s stock had a trading volume of 2,857,784 shares, compared to its average volume of 2,044,568. Axalta Coating Systems has a twelve month low of $28.69 and a twelve month high of $38.77. The stock has a market cap of $8.33 billion, a P/E ratio of 25.59, a PEG ratio of 0.97 and a beta of 1.44. The company has a fifty day simple moving average of $35.92 and a 200 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 (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.08. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. The business’s revenue was up .8% compared to the same quarter last year. Research analysts expect that Axalta Coating Systems will post 2.06 earnings per share for the current year.

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.