Axalta Coating Systems Ltd (AXTA) Expected to Announce Quarterly Sales of $1.18 Billion

Wall Street analysts expect that Axalta Coating Systems Ltd (NYSE:AXTA) will report $1.18 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Axalta Coating Systems’ earnings, with estimates ranging from $1.16 billion to $1.20 billion. Axalta Coating Systems reported sales of $1.17 billion during the same quarter last year, which indicates a positive year over year growth rate of 0.9%. The company is scheduled to report its next earnings results on Tuesday, February 5th.

On average, analysts expect that Axalta Coating Systems will report full-year sales of $4.72 billion for the current year, with estimates ranging from $4.69 billion to $4.73 billion. For the next financial year, analysts expect that the business will report sales of $4.83 billion, with estimates ranging from $4.75 billion to $5.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Axalta Coating Systems.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Thursday, October 25th. The specialty chemicals company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.03. Axalta Coating Systems had a net margin of 1.49% and a return on equity of 22.53%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion.

Several equities analysts have weighed in on AXTA shares. Zacks Investment Research upgraded shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a report on Monday, October 29th. Seaport Global Securities upgraded shares of Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a report on Monday, October 29th. BMO Capital Markets dropped their target price on shares of Axalta Coating Systems from $34.00 to $28.00 and set a “hold” rating for the company in a report on Friday, October 26th. Nomura dropped their target price on shares of Axalta Coating Systems from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, October 26th. Finally, Barclays dropped their target price on shares of Axalta Coating Systems from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $31.36.

Shares of NYSE AXTA opened at $25.34 on Friday. The company has a quick ratio of 1.63, a current ratio of 2.23 and a debt-to-equity ratio of 2.86. Axalta Coating Systems has a 52 week low of $23.65 and a 52 week high of $38.20. The stock has a market capitalization of $6.19 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.41 and a beta of 1.37.

In other Axalta Coating Systems news, EVP Steven R. Markevich sold 16,197 shares of Axalta Coating Systems stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $29.17, for a total transaction of $472,466.49. Following the transaction, the executive vice president now directly owns 161,697 shares of the company’s stock, valued at $4,716,701.49. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Steven R. Markevich sold 13,500 shares of Axalta Coating Systems stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $29.47, for a total transaction of $397,845.00. Following the transaction, the executive vice president now directly owns 177,029 shares in the company, valued at $5,217,044.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 340,471 shares of company stock valued at $10,119,458. 2.30% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. FMR LLC lifted its position in Axalta Coating Systems by 79.9% during the third quarter. FMR LLC now owns 6,696,710 shares of the specialty chemicals company’s stock valued at $195,277,000 after buying an additional 2,973,422 shares in the last quarter. CI Investments Inc. lifted its position in Axalta Coating Systems by 28.2% during the third quarter. CI Investments Inc. now owns 1,253,000 shares of the specialty chemicals company’s stock valued at $36,537,000 after buying an additional 276,000 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Axalta Coating Systems by 3.9% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 84,570 shares of the specialty chemicals company’s stock valued at $2,466,000 after buying an additional 3,159 shares in the last quarter. Janus Henderson Group PLC lifted its position in Axalta Coating Systems by 3.8% during the third quarter. Janus Henderson Group PLC now owns 2,759,610 shares of the specialty chemicals company’s stock valued at $80,470,000 after buying an additional 102,026 shares in the last quarter. Finally, CQS Cayman LP lifted its position in Axalta Coating Systems by 52.2% during the third quarter. CQS Cayman LP now owns 17,500 shares of the specialty chemicals company’s stock valued at $510,000 after buying an additional 6,000 shares in the last quarter.

About Axalta Coating Systems

Axalta Coating Systems Ltd. manufactures, markets, and distributes coatings systems. It operates through the following segments: Performance Coatings and Transportation Coatings. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base. The Transportation Coatings segment offers advanced coatings technologies to original equipment manufacturers of light and commercial vehicles.

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Earnings History and Estimates for Axalta Coating Systems (NYSE:AXTA)

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