Axalta Coating Systems (NYSE:AXTA) Issues Q2 Earnings Guidance

Axalta Coating Systems (NYSE:AXTA) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.50 for the period, compared to the consensus earnings per share estimate of $0.47. The company issued revenue guidance of $1.33-$1.39 billion, compared to the consensus revenue estimate of $1.34 billion. Axalta Coating Systems also updated its FY 2024 guidance to 1.900-2.000 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Mizuho dropped their price target on shares of Axalta Coating Systems from $40.00 to $38.00 and set a buy rating on the stock in a research report on Thursday. KeyCorp increased their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a report on Thursday. Robert W. Baird boosted their target price on Axalta Coating Systems from $35.00 to $40.00 and gave the company an outperform rating in a research note on Thursday. UBS Group downgraded Axalta Coating Systems from a buy rating to a neutral rating and increased their price target for the stock from $35.00 to $36.00 in a research note on Monday, January 8th. Finally, Citigroup boosted their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $38.00.

Axalta Coating Systems Price Performance

NYSE AXTA traded up $0.37 on Friday, hitting $35.20. The stock had a trading volume of 3,991,263 shares, compared to its average volume of 2,581,191. The firm has a 50-day moving average of $32.78 and a 200-day moving average of $31.82. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.46 and a current ratio of 2.07. Axalta Coating Systems has a 52-week low of $25.03 and a 52-week high of $35.31.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business posted $0.35 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. Equities analysts expect that Axalta Coating Systems will post 1.98 EPS for the current year.

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.