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

Axalta Coating Systems (NYSE:AXTA) issued its quarterly earnings data on Wednesday. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08, Briefing.com reports. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 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 .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. 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 Stock Performance

Shares of NYSE:AXTA traded up $0.06 during midday trading on Friday, reaching $37.98. The company’s stock had a trading volume of 2,857,784 shares, compared to its average volume of 2,044,568. The firm has a market capitalization of $8.33 billion, a PE ratio of 25.68, a P/E/G ratio of 0.97 and a beta of 1.44. The stock has a fifty day moving average of $35.97 and a 200 day moving average of $35.06. Axalta Coating Systems has a twelve month low of $28.69 and a twelve month high of $38.77. The company has a quick ratio of 1.70, a current ratio of 2.00 and a debt-to-equity ratio of 1.80.

Analysts Set New Price Targets

AXTA has been the topic of a number of recent analyst reports. UBS Group lowered 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 report on Tuesday, July 9th. Mizuho increased their price target on Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday. KeyCorp raised their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday. Royal Bank of Canada increased their price objective on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.70.

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.