Axalta Coating Systems (NYSE:AXTA) Releases FY 2024 Earnings Guidance

Axalta Coating Systems (NYSE:AXTA) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.900-2.000 for the period. The company issued revenue guidance of -. Axalta Coating Systems also updated its FY24 guidance to $1.90-$2.00 EPS.

Axalta Coating Systems Stock Performance

NYSE:AXTA traded up $0.37 during mid-day trading on Friday, reaching $35.20. The company’s stock had a trading volume of 3,991,263 shares, compared to its average volume of 2,581,191. Axalta Coating Systems has a 12-month low of $25.03 and a 12-month high of $35.31. The firm’s fifty day moving average price is $32.78 and its two-hundred day moving average price is $31.82. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 1.92. The stock has a market cap of $7.77 billion, a P/E ratio of 31.71, a PEG ratio of 1.08 and a beta of 1.51.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities analysts forecast that Axalta Coating Systems will post 1.98 EPS for the current fiscal year.

Analysts Set New Price Targets

AXTA has been the subject of several research reports. Mizuho reduced their price target on shares of Axalta Coating Systems from $40.00 to $38.00 and set a buy rating for the company in a research report on Thursday. BMO Capital Markets boosted their price objective on Axalta Coating Systems from $42.00 to $45.00 and gave the company an outperform rating in a research note on Thursday. Wells Fargo & Company boosted their price objective on Axalta Coating Systems from $31.00 to $33.00 and gave the company an equal weight rating in a research note on Tuesday, January 9th. KeyCorp boosted their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a research note on Thursday. Finally, Wolfe Research started coverage on Axalta Coating Systems in a research note on Friday, March 1st. They set a peer perform rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $38.00.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through two segments, Performance Coatings and Mobility Coatings.