Axalta Coating Systems (NYSE:AXTA) Issues Earnings Results

Axalta Coating Systems (NYSE:AXTA) posted its quarterly earnings data on Wednesday. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08, Briefing.com reports. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a return on equity of 24.28% and a net margin of 5.69%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 EPS. 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 Down 1.0 %

Axalta Coating Systems stock traded down $0.40 during trading hours on Thursday, hitting $37.92. 3,437,044 shares of the stock traded hands, compared to its average volume of 2,040,714. Axalta Coating Systems has a one year low of $25.92 and a one year high of $38.77. The company has a market cap of $8.37 billion, a PE ratio of 34.20, a PEG ratio of 0.87 and a beta of 1.44. The firm’s 50-day moving average price is $35.86 and its two-hundred day moving average price is $34.99. The company has a current ratio of 2.26, a quick ratio of 1.70 and a debt-to-equity ratio of 1.97.

Analysts Set New Price Targets

AXTA has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada raised their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Barclays lifted their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Robert W. Baird increased their price target on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, KeyCorp upped their price objective on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Axalta Coating Systems has a consensus rating of “Moderate Buy” and an average target price of $41.30.

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.