Analysts expect Axalta Coating Systems Ltd (NYSE:AXTA) to announce $1.19 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for Axalta Coating Systems’ earnings. The lowest sales estimate is $1.16 billion and the highest is $1.21 billion. Axalta Coating Systems reported sales of $1.21 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.7%. The company is expected to issue its next earnings report on Wednesday, July 24th.
On average, analysts expect that Axalta Coating Systems will report full year sales of $4.68 billion for the current financial year, with estimates ranging from $4.63 billion to $4.72 billion. For the next financial year, analysts expect that the business will post sales of $4.82 billion, with estimates ranging from $4.69 billion to $4.94 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Axalta Coating Systems.
Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.13. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. Axalta Coating Systems had a return on equity of 24.42% and a net margin of 3.90%. The company’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share.
Several analysts have recently weighed in on the company. Zacks Investment Research lowered Axalta Coating Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered Axalta Coating Systems from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $30.00 to $27.00 in a research report on Friday, April 26th. Finally, BMO Capital Markets set a $32.00 target price on Axalta Coating Systems and gave the stock a “hold” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Axalta Coating Systems has an average rating of “Hold” and an average target price of $30.09.
Shares of Axalta Coating Systems stock traded up $0.05 during trading on Friday, hitting $25.67. The stock had a trading volume of 1,724,707 shares, compared to its average volume of 1,960,656. The company has a quick ratio of 1.60, a current ratio of 2.21 and a debt-to-equity ratio of 2.98. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25. Axalta Coating Systems has a fifty-two week low of $21.58 and a fifty-two week high of $32.83.
In other Axalta Coating Systems news, Director Charles W. Shaver sold 500,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $26.71, for a total value of $13,355,000.00. Following the transaction, the director now owns 394,656 shares in the company, valued at $10,541,261.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andreas Kramvis sold 55,048 shares of the business’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $28.11, for a total value of $1,547,399.28. Following the completion of the transaction, the director now owns 50,628 shares in the company, valued at approximately $1,423,153.08. The disclosure for this sale can be found here. Insiders have sold 867,048 shares of company stock worth $22,868,084 over the last three months. 2.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AXTA. Northwestern Mutual Wealth Management Co. grew its stake in Axalta Coating Systems by 311.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,482 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 1,122 shares in the last quarter. We Are One Seven LLC purchased a new position in Axalta Coating Systems in the fourth quarter valued at about $40,000. Covington Capital Management purchased a new position in Axalta Coating Systems in the fourth quarter valued at about $68,000. ETF Managers Group LLC grew its stake in Axalta Coating Systems by 15.8% in the fourth quarter. ETF Managers Group LLC now owns 4,318 shares of the specialty chemicals company’s stock valued at $101,000 after purchasing an additional 588 shares in the last quarter. Finally, Ffcm LLC grew its stake in Axalta Coating Systems by 186.1% in the fourth quarter. Ffcm LLC now owns 4,532 shares of the specialty chemicals company’s stock valued at $106,000 after purchasing an additional 2,948 shares in the last quarter.
Axalta Coating Systems Company Profile
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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