Axalta Coating Systems (NYSE:AXTA) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Axalta Coating Systems (NYSE:AXTA) released its earnings results on Tuesday. The specialty chemicals company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.09, RTT News reports. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.31 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 earnings per share.

Axalta Coating Systems Price Performance

Shares of AXTA stock opened at $37.81 on Thursday. The firm has a fifty day simple moving average of $36.46 and a 200-day simple moving average of $36.40. The company has a market capitalization of $8.24 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 0.74 and a beta of 1.46. Axalta Coating Systems has a twelve month low of $30.40 and a twelve month high of $41.65. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80.

Analyst Upgrades and Downgrades

AXTA has been the topic of several recent analyst reports. Royal Bank of Canada increased their price objective on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Citigroup lowered shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and decreased their price target for the company from $45.00 to $41.00 in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft dropped their price objective on Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, December 19th. KeyCorp reiterated a “sector weight” rating on shares of Axalta Coating Systems in a report on Tuesday, December 17th. Finally, BMO Capital Markets upped their price target on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Axalta Coating Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.08.

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.