Q1 2024 EPS Estimates for Axalta Coating Systems Ltd. (NYSE:AXTA) Cut by Seaport Res Ptn

Axalta Coating Systems Ltd. (NYSE:AXTAFree Report) – Seaport Res Ptn cut their Q1 2024 earnings per share (EPS) estimates for Axalta Coating Systems in a report issued on Wednesday, February 7th. Seaport Res Ptn analyst M. Harrison now expects that the specialty chemicals company will post earnings per share of $0.43 for the quarter, down from their prior estimate of $0.44. The consensus estimate for Axalta Coating Systems’ current full-year earnings is $1.86 per share. Seaport Res Ptn also issued estimates for Axalta Coating Systems’ Q2 2024 earnings at $0.49 EPS, Q3 2024 earnings at $0.50 EPS and FY2024 earnings at $1.93 EPS.

Several other equities research analysts have also recently issued reports on the company. StockNews.com raised Axalta Coating Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd. UBS Group cut Axalta Coating Systems from a “buy” rating to a “neutral” rating and raised their target price for the stock from $35.00 to $36.00 in a research note on Monday, January 8th. JPMorgan Chase & Co. raised their target price on Axalta Coating Systems from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday. Wells Fargo & Company raised their target price on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada lifted their price objective on Axalta Coating Systems from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.42.

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Axalta Coating Systems Price Performance

AXTA stock opened at $31.33 on Friday. The business has a fifty day moving average of $32.99 and a two-hundred day moving average of $29.97. The company has a quick ratio of 1.50, a current ratio of 1.98 and a debt-to-equity ratio of 1.96. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 1.51 and a beta of 1.52. Axalta Coating Systems has a 52-week low of $25.03 and a 52-week high of $34.45.

Axalta Coating Systems (NYSE:AXTAGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The specialty chemicals company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). Axalta Coating Systems had a return on equity of 20.70% and a net margin of 5.16%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year.

Institutional Trading of Axalta Coating Systems

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Axalta Coating Systems by 65.4% during the 1st quarter. BlackRock Inc. now owns 25,806,208 shares of the specialty chemicals company’s stock worth $781,670,000 after buying an additional 10,208,408 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Axalta Coating Systems by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 22,886,402 shares of the specialty chemicals company’s stock worth $615,644,000 after buying an additional 949,673 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Axalta Coating Systems by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock worth $362,366,000 after buying an additional 1,415,723 shares during the last quarter. Shapiro Capital Management LLC lifted its holdings in Axalta Coating Systems by 12.8% during the 1st quarter. Shapiro Capital Management LLC now owns 9,477,301 shares of the specialty chemicals company’s stock worth $232,952,000 after buying an additional 1,074,872 shares during the last quarter. Finally, Ariel Investments LLC lifted its holdings in Axalta Coating Systems by 23.8% during the 1st quarter. Ariel Investments LLC now owns 7,398,739 shares of the specialty chemicals company’s stock worth $181,861,000 after buying an additional 1,420,653 shares during the last quarter. 98.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axalta Coating Systems

In related news, SVP Hadi Awada sold 10,500 shares of Axalta Coating Systems stock in a transaction on Monday, December 4th. The stock was sold at an average price of $31.99, for a total value of $335,895.00. Following the completion of the transaction, the senior vice president now directly owns 14,656 shares in the company, valued at $468,845.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Hadi Awada sold 10,500 shares of Axalta Coating Systems stock in a transaction on Monday, December 4th. The stock was sold at an average price of $31.99, for a total value of $335,895.00. Following the completion of the transaction, the senior vice president now directly owns 14,656 shares in the company, valued at $468,845.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Brian A. Berube sold 7,500 shares of Axalta Coating Systems stock in a transaction on Friday, November 17th. The shares were sold at an average price of $31.19, for a total value of $233,925.00. Following the completion of the transaction, the senior vice president now owns 44,408 shares of the company’s stock, valued at $1,385,085.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,915 shares of company stock worth $1,123,035. Company insiders own 0.40% of the company’s stock.

About Axalta Coating Systems

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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. It operates through two segments, Performance Coatings and Mobility Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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Earnings History and Estimates for Axalta Coating Systems (NYSE:AXTA)

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