Analysts Issue Forecasts for Axalta Coating Systems Ltd.’s Q1 2024 Earnings (NYSE:AXTA)

Axalta Coating Systems Ltd. (NYSE:AXTAFree Report) – Stock analysts at Seaport Res Ptn cut their Q1 2024 earnings per share (EPS) estimates for shares of Axalta Coating Systems in a report released on Thursday, February 8th. Seaport Res Ptn analyst M. Harrison now expects that the specialty chemicals company will post earnings per share of $0.41 for the quarter, down from their prior forecast of $0.43. The consensus estimate for Axalta Coating Systems’ current full-year earnings is $1.87 per share. Seaport Res Ptn also issued estimates for Axalta Coating Systems’ Q4 2024 earnings at $0.49 EPS, FY2024 earnings at $1.89 EPS and FY2025 earnings at $2.20 EPS.

Several other equities analysts also recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 9th. Royal Bank of Canada lifted their price target on shares of Axalta Coating Systems from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. StockNews.com raised shares of Axalta Coating Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd. UBS Group downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $35.00 to $36.00 in a research note on Monday, January 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Axalta Coating Systems presently has an average rating of “Moderate Buy” and a consensus price target of $34.42.

Check Out Our Latest Analysis on Axalta Coating Systems

Axalta Coating Systems Stock Up 0.5 %

Shares of NYSE AXTA opened at $31.49 on Monday. Axalta Coating Systems has a 52-week low of $25.03 and a 52-week high of $34.45. The business’s 50 day moving average is $32.97 and its two-hundred day moving average is $29.94. The company has a quick ratio of 1.46, a current ratio of 1.98 and a debt-to-equity ratio of 1.96. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 1.52 and a beta of 1.52.

Axalta Coating Systems (NYSE:AXTAGet Free Report) last posted its earnings results on Thursday, February 8th. The specialty chemicals company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). Axalta Coating Systems had a net margin of 5.16% and a return on equity of 20.70%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business earned $0.38 earnings per share. Axalta Coating Systems’s revenue was up 4.9% on a year-over-year basis.

Insider Activity at Axalta Coating Systems

In related news, SVP Hadi Awada sold 10,500 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $31.99, for a total transaction of $335,895.00. Following the completion of the transaction, the senior vice president now directly owns 14,656 shares in the company, valued at approximately $468,845.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Brian A. Berube sold 7,500 shares of Axalta Coating Systems stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $31.19, for a total transaction of $233,925.00. Following the transaction, the senior vice president now owns 44,408 shares of the company’s stock, valued at approximately $1,385,085.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Hadi Awada sold 10,500 shares of Axalta Coating Systems stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $31.99, for a total transaction of $335,895.00. Following the completion of the transaction, the senior vice president now directly owns 14,656 shares in the company, valued at approximately $468,845.44. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Axalta Coating Systems

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Axalta Coating Systems by 65.4% in the first quarter. BlackRock Inc. now owns 25,806,208 shares of the specialty chemicals company’s stock valued at $781,670,000 after purchasing an additional 10,208,408 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Axalta Coating Systems by 4.3% in the third quarter. Vanguard Group Inc. now owns 22,886,402 shares of the specialty chemicals company’s stock valued at $615,644,000 after purchasing an additional 949,673 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Axalta Coating Systems by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock valued at $362,366,000 after purchasing an additional 1,415,723 shares during the last quarter. Shapiro Capital Management LLC increased its holdings in shares of Axalta Coating Systems by 12.8% in the first quarter. Shapiro Capital Management LLC now owns 9,477,301 shares of the specialty chemicals company’s stock valued at $232,952,000 after purchasing an additional 1,074,872 shares during the last quarter. Finally, Ariel Investments LLC grew its stake in shares of Axalta Coating Systems by 23.8% in the first quarter. Ariel Investments LLC now owns 7,398,739 shares of the specialty chemicals company’s stock valued at $181,861,000 after acquiring an additional 1,420,653 shares in the last quarter. 98.64% of the stock is currently owned by institutional investors and hedge funds.

Axalta Coating Systems Company Profile

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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. It operates through two segments, Performance Coatings and Mobility Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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Earnings History and Estimates for Axalta Coating Systems (NYSE:AXTA)

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