Axalta Coating Systems Ltd (AXTA) Expected to Post Earnings of $0.35 Per Share
Equities research analysts expect that Axalta Coating Systems Ltd (NASDAQ:AXTA) will announce earnings of $0.35 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Axalta Coating Systems’ earnings, with the lowest EPS estimate coming in at $0.33 and the highest estimate coming in at $0.40. Axalta Coating Systems posted earnings per share of $0.32 during the same quarter last year, which indicates a positive year over year growth rate of 9.4%. The firm is expected to issue its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Axalta Coating Systems will report full year earnings of $1.32 per share for the current fiscal year, with EPS estimates ranging from $1.25 to $1.40. For the next fiscal year, analysts expect that the business will post earnings of $1.54 per share, with EPS estimates ranging from $1.44 to $1.70. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Axalta Coating Systems.
Axalta Coating Systems (NASDAQ:AXTA) last issued its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.08). The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. Axalta Coating Systems had a negative return on equity of 6.61% and a negative net margin of 1.73%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share.
Several equities analysts recently issued reports on the company. BidaskClub raised Axalta Coating Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Bank of America Corporation cut Axalta Coating Systems from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $36.00 to $30.00 in a research report on Wednesday, June 21st. Susquehanna Bancshares Inc assumed coverage on Axalta Coating Systems in a research report on Tuesday, July 18th. They issued a “neutral” rating and a $37.00 price objective on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Axalta Coating Systems in a research report on Friday, July 14th. Finally, UBS AG reaffirmed a “buy” rating and issued a $39.00 price objective (up from $37.00) on shares of Axalta Coating Systems in a research report on Tuesday, June 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.36.
Shares of Axalta Coating Systems (NASDAQ AXTA) traded down 0.293% during mid-day trading on Monday, reaching $28.945. The company had a trading volume of 107,316 shares. The company has a market capitalization of $6.99 billion and a price-to-earnings ratio of 170.265. The company has a 50 day moving average price of $29.17 and a 200 day moving average price of $31.22. Axalta Coating Systems has a one year low of $24.27 and a one year high of $34.10.
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In related news, VP Sean M. Lannon sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $33.00, for a total value of $165,000.00. Following the transaction, the vice president now directly owns 16,286 shares of the company’s stock, valued at approximately $537,438. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Samuel L. Smolik bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was bought at an average cost of $28.16 per share, for a total transaction of $112,640.00. Following the completion of the acquisition, the director now owns 4,000 shares in the company, valued at approximately $112,640. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 319,500 shares of company stock worth $9,828,285.
A number of institutional investors have recently made changes to their positions in AXTA. Robeco Institutional Asset Management B.V. bought a new position in Axalta Coating Systems in the 2nd quarter worth $108,000. Chicago Partners Investment Group LLC bought a new position in Axalta Coating Systems in the 2nd quarter worth $127,000. Commonwealth Bank of Australia raised its holdings in Axalta Coating Systems by 18.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock worth $146,000 after purchasing an additional 703 shares during the period. Acrospire Investment Management LLC raised its holdings in Axalta Coating Systems by 257.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 4,862 shares of the specialty chemicals company’s stock worth $156,000 after purchasing an additional 3,500 shares during the period. Finally, Advisor Group Inc. raised its holdings in Axalta Coating Systems by 217.3% in the 2nd quarter. Advisor Group Inc. now owns 5,603 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 3,837 shares during the period.
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.
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