Axalta Coating Systems Ltd. (NYSE:AXTA) to Post Q3 2024 Earnings of $0.51 Per Share, KeyCorp Forecasts

Axalta Coating Systems Ltd. (NYSE:AXTA) – KeyCorp issued their Q3 2024 earnings per share (EPS) estimates for shares of Axalta Coating Systems in a research note issued to investors on Sunday, October 6th. KeyCorp analyst A. Yefremov forecasts that the specialty chemicals company will post earnings per share of $0.51 for the quarter. KeyCorp currently has a “Overweight” rating and a $44.00 target price on the stock. The consensus estimate for Axalta Coating Systems’ current full-year earnings is $2.07 per share. KeyCorp also issued estimates for Axalta Coating Systems’ Q4 2024 earnings at $0.50 EPS, FY2024 earnings at $2.05 EPS and FY2025 earnings at $2.39 EPS.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis.

A number of other equities analysts have also recently issued reports on AXTA. JPMorgan Chase & Co. increased their target price on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Robert W. Baird boosted their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. UBS Group reduced their price target on shares of Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Barclays raised their price objective on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.00.

Axalta Coating Systems Stock Performance

NYSE:AXTA opened at $36.05 on Wednesday. The firm has a market capitalization of $7.95 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. The company has a quick ratio of 1.70, a current ratio of 2.26 and a debt-to-equity ratio of 1.97. Axalta Coating Systems has a 12-month low of $25.03 and a 12-month high of $37.78. The firm has a 50-day moving average price of $35.27 and a 200 day moving average price of $34.66.

Hedge Funds Weigh In On Axalta Coating Systems

Several large investors have recently bought and sold shares of the business. KBC Group NV bought a new position in shares of Axalta Coating Systems in the 4th quarter worth $136,000. Quadrature Capital Ltd bought a new stake in shares of Axalta Coating Systems in the 4th quarter valued at about $1,413,000. Cubist Systematic Strategies LLC increased its stake in shares of Axalta Coating Systems by 4,604.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 435,429 shares of the specialty chemicals company’s stock valued at $14,792,000 after acquiring an additional 426,173 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Axalta Coating Systems in the 4th quarter valued at approximately $48,000. Finally, Goldman Sachs Group Inc. grew its holdings in Axalta Coating Systems by 70.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,027,372 shares of the specialty chemicals company’s stock valued at $34,900,000 after purchasing an additional 425,173 shares during the period. 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.