Zacks: Analysts Expect Axalta Coating Systems Ltd (AXTA) Will Announce Earnings of $0.33 Per Share
Wall Street brokerages expect Axalta Coating Systems Ltd (NASDAQ:AXTA) to announce earnings of $0.33 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Axalta Coating Systems’ earnings, with estimates ranging from $0.27 to $0.37. Axalta Coating Systems reported earnings per share of $0.28 during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.9%. The business is scheduled to issue its next earnings report on Wednesday, February 14th.
On average, analysts expect that Axalta Coating Systems will report full year earnings of $1.15 per share for the current year, with EPS estimates ranging from $1.10 to $1.20. For the next year, analysts anticipate that the company will report earnings of $1.39 per share, with EPS estimates ranging from $1.25 to $1.60. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Axalta Coating Systems.
Axalta Coating Systems (NASDAQ:AXTA) last posted its quarterly earnings data on Thursday, October 26th. The specialty chemicals company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Axalta Coating Systems had a negative net margin of 1.73% and a negative return on equity of 6.61%. Axalta Coating Systems’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS.
Several brokerages have recently weighed in on AXTA. Susquehanna Bancshares Inc began coverage on shares of Axalta Coating Systems in a research report on Tuesday, July 18th. They set a “neutral” rating and a $37.00 price objective for the company. UBS AG reduced their price objective on shares of Axalta Coating Systems from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Citigroup Inc. upgraded shares of Axalta Coating Systems from a “sell” rating to a “hold” rating and set a $34.00 price objective for the company in a research report on Monday. Royal Bank Of Canada restated a “buy” rating and set a $37.00 price objective on shares of Axalta Coating Systems in a research report on Monday. They noted that the move was a valuation call. Finally, Robert W. Baird restated a “buy” rating and set a $35.00 price objective on shares of Axalta Coating Systems in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Axalta Coating Systems currently has a consensus rating of “Hold” and an average price target of $33.64.
In other Axalta Coating Systems news, Director Samuel L. Smolik bought 4,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were acquired at an average cost of $28.16 per share, with a total value of $112,640.00. Following the acquisition, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $112,640. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael A. Cash sold 34,874 shares of Axalta Coating Systems stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $30.00, for a total transaction of $1,046,220.00. The disclosure for this sale can be found here. Insiders sold a total of 195,774 shares of company stock worth $5,771,898 over the last ninety days.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC increased its stake in Axalta Coating Systems by 1.4% in the 1st quarter. HighTower Advisors LLC now owns 15,520 shares of the specialty chemicals company’s stock valued at $499,000 after buying an additional 209 shares during the period. Financial Counselors Inc. increased its stake in Axalta Coating Systems by 3.3% in the 2nd quarter. Financial Counselors Inc. now owns 7,145 shares of the specialty chemicals company’s stock valued at $229,000 after buying an additional 225 shares during the period. RiverPoint Capital Management LLC increased its stake in Axalta Coating Systems by 1.9% in the 2nd quarter. RiverPoint Capital Management LLC now owns 12,940 shares of the specialty chemicals company’s stock valued at $415,000 after buying an additional 245 shares during the period. Investment Counselors of Maryland LLC increased its stake in Axalta Coating Systems by 0.7% in the 2nd quarter. Investment Counselors of Maryland LLC now owns 51,401 shares of the specialty chemicals company’s stock valued at $1,647,000 after buying an additional 375 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in Axalta Coating Systems by 2.4% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 25,290 shares of the specialty chemicals company’s stock valued at $814,000 after buying an additional 590 shares during the period.
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About Axalta Coating Systems
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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