Axalta Coating Systems Ltd (AXTA) Expected to Announce Quarterly Sales of $1.11 Billion
Wall Street brokerages expect Axalta Coating Systems Ltd (NASDAQ:AXTA) to report $1.11 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Axalta Coating Systems’ earnings, with the highest sales estimate coming in at $1.15 billion and the lowest estimate coming in at $1.10 billion. Axalta Coating Systems posted sales of $1.07 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.7%. The company is scheduled to issue its next earnings results on Tuesday, July 25th.
On average, analysts expect that Axalta Coating Systems will report full-year sales of $1.11 billion for the current fiscal year, with estimates ranging from $4.17 billion to $4.46 billion. For the next financial year, analysts anticipate that the firm will report sales of $4.52 billion per share, with estimates ranging from $4.36 billion to $4.72 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Axalta Coating Systems.
Axalta Coating Systems (NASDAQ:AXTA) last issued its quarterly earnings data on Wednesday, April 26th. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.02. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $994.43 million. Axalta Coating Systems had a net margin of 6.50% and a return on equity of 21.46%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share.
Several research analysts recently commented on the stock. Jefferies Group LLC set a $36.00 price objective on shares of Axalta Coating Systems and gave the stock a “buy” rating in a report on Saturday, March 25th. Instinet downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a report on Friday, April 21st. Zacks Investment Research downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Nomura downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a report on Friday, April 21st. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $33.00 price objective (up from $30.00) on shares of Axalta Coating Systems in a report on Friday, April 14th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $33.73.
In other Axalta Coating Systems news, VP Sean M. Lannon sold 5,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $33.00, for a total value of $165,000.00. Following the sale, the vice president now directly owns 16,286 shares in the company, valued at approximately $537,438. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael F. Finn sold 37,200 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $31.76, for a total transaction of $1,181,472.00. Following the completion of the sale, the senior vice president now owns 158,771 shares in the company, valued at $5,042,566.96. The disclosure for this sale can be found here. Insiders sold a total of 435,489 shares of company stock worth $13,728,870 over the last quarter.
Several hedge funds have recently bought and sold shares of the stock. Roystone Capital Management LP bought a new stake in Axalta Coating Systems during the fourth quarter valued at $67,306,000. Pacad Investment Ltd. boosted its stake in Axalta Coating Systems by 28.3% in the fourth quarter. Pacad Investment Ltd. now owns 17,700 shares of the specialty chemicals company’s stock valued at $481,000 after buying an additional 3,900 shares during the period. Advisory Research Inc. boosted its stake in Axalta Coating Systems by 12.8% in the fourth quarter. Advisory Research Inc. now owns 931,562 shares of the specialty chemicals company’s stock valued at $25,339,000 after buying an additional 105,745 shares during the period. Credit Agricole S A boosted its stake in Axalta Coating Systems by 102.0% in the fourth quarter. Credit Agricole S A now owns 44,137 shares of the specialty chemicals company’s stock valued at $1,201,000 after buying an additional 22,283 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its stake in Axalta Coating Systems by 129.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 19,366 shares of the specialty chemicals company’s stock valued at $528,000 after buying an additional 10,927 shares during the period.
Shares of Axalta Coating Systems (AXTA) traded down 0.6138% during midday trading on Thursday, reaching $33.1453. 20,482 shares of the company’s stock traded hands. The firm has a market cap of $8.02 billion and a PE ratio of 109.7527. The stock has a 50-day moving average price of $31.89 and a 200 day moving average price of $29.95. Axalta Coating Systems has a 12 month low of $24.27 and a 12 month high of $33.73.
Axalta Coating Systems Company Profile
Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Axalta Coating Systems Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems Ltd and related companies with MarketBeat.com's FREE daily email newsletter.