Axalta Coating Systems (NYSE:AXTA) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Axalta Coating Systems (NYSE:AXTA) issued its quarterly earnings data on Wednesday. The specialty chemicals company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08, Briefing.com reports. Axalta Coating Systems had a return on equity of 24.28% and a net margin of 5.69%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $0.45 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. Axalta Coating Systems updated its FY 2024 guidance to 2.150-2.150 EPS and its FY24 guidance to $2.15 EPS.

Axalta Coating Systems Trading Down 1.0 %

Axalta Coating Systems stock traded down $0.40 during mid-day trading on Thursday, hitting $37.92. 3,437,044 shares of the stock were exchanged, compared to its average volume of 2,040,714. Axalta Coating Systems has a 12 month low of $25.92 and a 12 month high of $38.77. The company has a quick ratio of 1.70, a current ratio of 2.26 and a debt-to-equity ratio of 1.97. The firm’s fifty day simple moving average is $35.86 and its two-hundred day simple moving average is $34.99. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 0.87 and a beta of 1.44.

Analysts Set New Price Targets

A number of equities analysts recently commented on AXTA shares. KeyCorp raised their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada raised their price target on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Robert W. Baird raised their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, UBS Group cut their price objective on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Axalta Coating Systems currently has an average rating of “Moderate Buy” and an average target price of $41.30.

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.