Zacks: Analysts Expect Axalta Coating Systems Ltd (NYSE:AXTA) Will Post Quarterly Sales of $1.12 Billion

Analysts expect that Axalta Coating Systems Ltd (NYSE:AXTA) will report sales of $1.12 billion for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Axalta Coating Systems’ earnings. The highest sales estimate is $1.13 billion and the lowest is $1.11 billion. Axalta Coating Systems reported sales of $1.17 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 4.3%. The firm is scheduled to announce its next earnings report on Wednesday, January 29th.

On average, analysts expect that Axalta Coating Systems will report full year sales of $4.51 billion for the current fiscal year, with estimates ranging from $4.49 billion to $4.53 billion. For the next fiscal year, analysts anticipate that the business will post sales of $4.57 billion, with estimates ranging from $4.51 billion to $4.66 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Axalta Coating Systems.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Thursday, October 24th. The specialty chemicals company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.07. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Axalta Coating Systems had a return on equity of 31.05% and a net margin of 6.21%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS.

AXTA has been the subject of several analyst reports. TheStreet raised Axalta Coating Systems from a “c+” rating to a “b” rating in a report on Friday, July 26th. Bank of America cut Axalta Coating Systems from a “buy” rating to a “neutral” rating in a report on Friday, August 16th. Zacks Investment Research raised Axalta Coating Systems from a “sell” rating to a “hold” rating in a report on Monday, October 28th. Nomura upped their price target on Axalta Coating Systems from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Credit Suisse Group upped their price target on Axalta Coating Systems from $34.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Axalta Coating Systems presently has an average rating of “Hold” and an average price target of $32.82.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its holdings in shares of Axalta Coating Systems by 639.8% during the second quarter. Parallel Advisors LLC now owns 910 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 787 shares during the last quarter. NEXT Financial Group Inc raised its holdings in shares of Axalta Coating Systems by 633.3% during the second quarter. NEXT Financial Group Inc now owns 1,100 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 950 shares during the last quarter. Hexavest Inc. acquired a new position in shares of Axalta Coating Systems during the second quarter valued at approximately $46,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Axalta Coating Systems during the second quarter valued at approximately $57,000. Finally, SRS Capital Advisors Inc. acquired a new position in shares of Axalta Coating Systems during the second quarter valued at approximately $58,000. 98.02% of the stock is owned by institutional investors.

Shares of AXTA stock traded down $0.18 on Monday, hitting $30.05. The company had a trading volume of 879,895 shares, compared to its average volume of 2,242,457. The firm has a market cap of $7.06 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.45. The company has a 50-day moving average price of $29.55 and a 200-day moving average price of $28.41. The company has a quick ratio of 1.77, a current ratio of 2.35 and a debt-to-equity ratio of 2.82. Axalta Coating Systems has a twelve month low of $21.58 and a twelve month high of $32.20.

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.

Featured Article: Stock Symbols, CUSIP and Other Stock Identifiers

Get a free copy of the Zacks research report on Axalta Coating Systems (AXTA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Axalta Coating Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems and related companies with MarketBeat.com's FREE daily email newsletter.