Seaport Res Ptn Has Negative Outlook of AXTA FY2024 Earnings

Axalta Coating Systems Ltd. (NYSE:AXTA) – Analysts at Seaport Res Ptn dropped their FY2024 earnings per share (EPS) estimates for Axalta Coating Systems in a research note issued to investors on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now expects that the specialty chemicals company will earn $2.15 per share for the year, down from their prior forecast of $2.16. The consensus estimate for Axalta Coating Systems’ current full-year earnings is $2.15 per share. Seaport Res Ptn also issued estimates for Axalta Coating Systems’ Q4 2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.63 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.60 EPS and FY2025 earnings at $2.34 EPS.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada boosted their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wolfe Research raised Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a research report on Friday, January 17th. Mizuho lowered their price target on Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Citigroup cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and cut their price objective for the company from $45.00 to $41.00 in a research report on Wednesday, December 18th. Finally, KeyCorp restated a “sector weight” rating on shares of Axalta Coating Systems in a report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Axalta Coating Systems Trading Down 0.4 %

Shares of Axalta Coating Systems stock opened at $36.73 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 0.74 and a beta of 1.46. Axalta Coating Systems has a twelve month low of $30.40 and a twelve month high of $41.65. The business has a 50-day moving average price of $37.04 and a 200-day moving average price of $36.29.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly 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. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm earned $0.45 EPS. The firm’s revenue was up .8% compared to the same quarter last year.

Institutional Trading of Axalta Coating Systems

Several institutional investors and hedge funds have recently bought and sold shares of AXTA. Eagle Bay Advisors LLC boosted its position in Axalta Coating Systems by 116.3% in the 4th quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 443 shares in the last quarter. True Wealth Design LLC acquired a new stake in Axalta Coating Systems during the third quarter valued at $37,000. First Horizon Advisors Inc. increased its holdings in Axalta Coating Systems by 35.2% in the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 266 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Axalta Coating Systems in the third quarter worth about $41,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Axalta Coating Systems during the 3rd quarter worth about $54,000. 98.28% of the stock is currently owned by institutional investors and hedge funds.

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.