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

Axalta Coating Systems (NYSE:AXTA) released its quarterly earnings data on Wednesday. The specialty chemicals company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.40 by $0.08, Briefing.com reports. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a return on equity of 20.70% and a net margin of 5.16%. Axalta Coating Systems’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share.

Axalta Coating Systems Stock Performance

AXTA traded up $0.87 during trading on Thursday, reaching $35.08. 940,909 shares of the company’s stock were exchanged, compared to its average volume of 2,074,418. The stock has a market capitalization of $7.74 billion, a P/E ratio of 29.16, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. The company’s fifty day simple moving average is $32.72 and its 200-day simple moving average is $31.80. Axalta Coating Systems has a 1 year low of $25.03 and a 1 year high of $35.21. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.98 and a quick ratio of 1.46.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AXTA. BMO Capital Markets raised their target price on Axalta Coating Systems from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Wolfe Research assumed coverage on shares of Axalta Coating Systems in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. UBS Group downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $36.00 in a report on Monday, January 8th. Finally, Citigroup upped their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.23.

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.