Axiall Corp. Lowered to Neutral at Merrill Lynch (AXLL)
Axiall Corp. (NASDAQ:AXLL) was downgraded by analysts at Merrill Lynch from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Stock Ratings Network reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. downgraded shares of Axiall Corp. (NASDAQ:AXLL) from a “buy” rating to a “neutral” rating in a research note to investors on Friday. They now have a $45.00 price target on the stock, down previously from $56.00. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Axiall Corp. (NASDAQ:AXLL) from an “overweight” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $46.00 price target on the stock, down previously from $53.00. Finally, analysts at Zacks upgraded shares of Axiall Corp. (NASDAQ:AXLL) from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 7th. They now have a $46.00 price target on the stock.
One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $51.11.
Shares of Axiall Corp. (NASDAQ:AXLL) traded down 3.19% during mid-day trading on Friday, hitting $39.45. 1,679,902 shares of the company’s stock traded hands. Axiall Corp. has a one year low of $35.27 and a one year high of $64.96. The stock’s 50-day moving average is $42.38 and its 200-day moving average is $48.40. The company has a market cap of $2.757 billion and a price-to-earnings ratio of 14.51.
Axiall Corp. (NASDAQ:AXLL) last announced its earnings results on Wednesday, July 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.02. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. The company’s revenue for the quarter was up 46.7% on a year-over-year basis. On average, analysts predict that Axiall Corp. will post $4.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 10th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Wednesday, September 25th. This is a boost from Axiall Corp.’s previous quarterly dividend of $0.08.
Axiall Corporation (NASDAQ:AXLL), formerly Georgia Gulf Corporation is a manufacturer and an international marketer of chlorovinyl and aromatic chemicals and also manufacture and market vinyl-based building and home improvement products.
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