KeyCorp Issues Negative Estimate for AXTA Earnings

Axalta Coating Systems Ltd. (NYSE:AXTA) – Stock analysts at KeyCorp dropped their Q4 2024 earnings per share (EPS) estimates for Axalta Coating Systems in a note issued to investors on Monday, December 16th. KeyCorp analyst A. Yefremov now forecasts that the specialty chemicals company will post earnings of $0.47 per share for the quarter, down from their prior forecast of $0.50. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Axalta Coating Systems’ current full-year earnings is $2.16 per share. KeyCorp also issued estimates for Axalta Coating Systems’ Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.61 EPS, Q3 2025 earnings at $0.64 EPS and FY2026 earnings at $2.75 EPS.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share.

Other analysts also recently issued research reports about the stock. Evercore ISI initiated coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 target price for the company. Citigroup downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $45.00 to $41.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday. Barclays increased their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada boosted their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Axalta Coating Systems has an average rating of “Moderate Buy” and an average target price of $42.50.

Axalta Coating Systems Stock Performance

NYSE:AXTA opened at $34.44 on Thursday. The stock’s 50-day moving average is $38.42 and its 200-day moving average is $36.31. Axalta Coating Systems has a 1-year low of $30.40 and a 1-year high of $41.65. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. The stock has a market cap of $7.51 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 0.83 and a beta of 1.44.

Institutional Investors Weigh In On Axalta Coating Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXTA. Wealth Enhancement Advisory Services LLC lifted its position in shares of Axalta Coating Systems by 12.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,641 shares of the specialty chemicals company’s stock worth $466,000 after acquiring an additional 1,500 shares in the last quarter. Raymond James & Associates boosted its stake in Axalta Coating Systems by 15.4% in the 2nd quarter. Raymond James & Associates now owns 113,441 shares of the specialty chemicals company’s stock worth $3,876,000 after purchasing an additional 15,160 shares during the period. Fifth Third Bancorp grew its holdings in Axalta Coating Systems by 180.5% during the 2nd quarter. Fifth Third Bancorp now owns 3,097 shares of the specialty chemicals company’s stock valued at $106,000 after buying an additional 1,993 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Axalta Coating Systems during the second quarter valued at about $229,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Axalta Coating Systems by 2.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,687 shares of the specialty chemicals company’s stock worth $1,561,000 after buying an additional 1,111 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors.

Axalta Coating Systems Company Profile

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.