Axalta Coating Systems (NYSE:AXTA) Releases Q2 Earnings Guidance

Axalta Coating Systems (NYSE:AXTA) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.50 for the period, compared to the consensus estimate of $0.47. The company issued revenue guidance of $1.33-$1.39 billion, compared to the consensus revenue estimate of $1.34 billion. Axalta Coating Systems also updated its FY 2024 guidance to 1.900-2.000 EPS.

Analyst Ratings Changes

A number of brokerages have weighed in on AXTA. Royal Bank of Canada raised their target price on shares of Axalta Coating Systems from $39.00 to $42.00 and gave the company an outperform rating in a research note on Friday. JPMorgan Chase & Co. increased their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a report on Thursday. Wolfe Research started coverage on shares of Axalta Coating Systems in a report on Friday, March 1st. They set a peer perform rating on the stock. Mizuho dropped their target price on shares of Axalta Coating Systems from $40.00 to $38.00 and set a buy rating on the stock in a report on Thursday. Finally, Barclays raised their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock an overweight rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Axalta Coating Systems currently has an average rating of Moderate Buy and a consensus price target of $38.00.

Axalta Coating Systems Stock Performance

Shares of NYSE:AXTA traded up $0.37 on Friday, hitting $35.20. 3,991,263 shares of the company were exchanged, compared to its average volume of 2,581,191. Axalta Coating Systems has a 1-year low of $25.03 and a 1-year high of $35.31. The stock’s 50 day moving average price is $32.78 and its 200 day moving average price is $31.82. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $7.77 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.08. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. Sell-side analysts predict that Axalta Coating Systems will post 1.98 EPS for the current year.

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.