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 Thursday morning. The company provided earnings per share (EPS) guidance of 2.050-2.050 for the period, compared to the consensus estimate of 1.980. The company issued revenue guidance of -. Axalta Coating Systems also updated its Q3 2024 guidance to 0.500-0.500 EPS.

Axalta Coating Systems Price Performance

AXTA stock opened at $35.64 on Thursday. The company has a market capitalization of $7.86 billion, a P/E ratio of 32.11, a PEG ratio of 0.91 and a beta of 1.44. Axalta Coating Systems has a twelve month low of $25.03 and a twelve month high of $36.98. The business has a 50 day simple moving average of $34.99 and a 200-day simple moving average of $33.71. The company has a current ratio of 2.07, a quick ratio of 1.51 and a debt-to-equity ratio of 1.92.

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, topping the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that Axalta Coating Systems will post 1.98 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. UBS Group cut their price target on Axalta Coating Systems from $39.00 to $38.00 and set a neutral rating for the company in a research note on Tuesday, July 9th. KeyCorp upped their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an overweight rating in a research note on Thursday, May 2nd. Citigroup increased their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Mizuho increased their price objective on Axalta Coating Systems from $38.00 to $41.00 and gave the stock a buy rating in a research report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. increased their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $38.50.

About Axalta Coating Systems

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.