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

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

Axalta Coating Systems Price Performance

Axalta Coating Systems stock opened at $38.14 on Wednesday. The company has a fifty day simple moving average of $36.52 and a 200-day simple moving average of $36.39. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 0.74 and a beta of 1.46. Axalta Coating Systems has a 52-week low of $30.40 and a 52-week high of $41.65.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AXTA shares. Evercore ISI assumed coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price objective for the company. Citigroup downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $45.00 to $41.00 in a research report on Wednesday, December 18th. Mizuho cut their price objective on Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, BMO Capital Markets boosted their price target on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Three research 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 stock. According to data from MarketBeat.com, the stock presently has an average 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.