Axalta Coating Systems (NYSE:AXTA) Releases Q2 Earnings Guidance

Axalta Coating Systems (NYSE:AXTA) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.50 for the period, compared to the consensus estimate of $0.47. The company issued revenue guidance of $1.33-$1.39 billion, compared to the consensus revenue estimate of $1.34 billion. Axalta Coating Systems also updated its FY 2024 guidance to 1.900-2.000 EPS.

Axalta Coating Systems Stock Up 1.1 %

Axalta Coating Systems stock traded up $0.37 during mid-day trading on Friday, hitting $35.20. The company’s stock had a trading volume of 3,991,263 shares, compared to its average volume of 2,581,191. The firm’s 50 day moving average is $32.78 and its 200 day moving average is $31.82. The company has a market cap of $7.77 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.46. Axalta Coating Systems has a 52-week low of $25.03 and a 52-week high of $35.31.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.08. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 EPS. On average, analysts anticipate that Axalta Coating Systems will post 1.98 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AXTA shares. UBS Group downgraded Axalta Coating Systems from a buy rating to a neutral rating and increased their price objective for the stock from $35.00 to $36.00 in a research note on Monday, January 8th. Barclays upped 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. JPMorgan Chase & Co. upped 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. Royal Bank of Canada upped their target price on Axalta Coating Systems from $39.00 to $42.00 and gave the stock an outperform rating in a research report on Friday. Finally, BMO Capital Markets upped their target price on Axalta Coating Systems from $42.00 to $45.00 and gave the stock an outperform rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Axalta Coating Systems presently has an average rating of Moderate Buy and a consensus target price of $38.00.

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.