Axalta Coating Systems (AXTA) Expected to Post Quarterly Sales of $1.23 Billion

Analysts expect that Axalta Coating Systems (NYSE:AXTA) will post $1.23 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Axalta Coating Systems’ earnings. The lowest sales estimate is $1.21 billion and the highest is $1.24 billion. Axalta Coating Systems reported sales of $1.09 billion during the same quarter last year, which would suggest a positive year over year growth rate of 12.8%. The business is expected to announce its next earnings report on Thursday, August 2nd.

According to Zacks, analysts expect that Axalta Coating Systems will report full-year sales of $4.81 billion for the current financial year, with estimates ranging from $4.76 billion to $4.85 billion. For the next financial year, analysts expect that the company will post sales of $4.99 billion per share, with estimates ranging from $4.91 billion to $5.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Axalta Coating Systems.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, April 25th. The specialty chemicals company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. Axalta Coating Systems had a return on equity of 20.56% and a net margin of 0.94%. Axalta Coating Systems’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 EPS.

Several analysts recently commented on AXTA shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $35.00 price target on shares of Axalta Coating Systems in a research note on Thursday, February 8th. Zacks Investment Research raised Axalta Coating Systems from a “sell” rating to a “hold” rating in a research note on Friday, April 27th. BMO Capital Markets started coverage on Axalta Coating Systems in a research note on Tuesday, March 27th. They issued a “market perform” rating and a $33.00 price target on the stock. JPMorgan Chase & Co. lowered Axalta Coating Systems from an “overweight” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Wednesday. Finally, Bank of America raised Axalta Coating Systems from an “underperform” rating to a “neutral” rating and set a $35.00 price target on the stock in a research note on Friday, April 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. Axalta Coating Systems currently has an average rating of “Hold” and a consensus target price of $34.13.

In other Axalta Coating Systems news, VP Sean M. Lannon sold 3,892 shares of the business’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $31.12, for a total value of $121,119.04. Following the transaction, the vice president now owns 25,273 shares of the company’s stock, valued at $786,495.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Michael A. Cash sold 64,898 shares of the business’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $32.59, for a total value of $2,115,025.82. Following the completion of the transaction, the senior vice president now directly owns 242,056 shares in the company, valued at approximately $7,888,605.04. The disclosure for this sale can be found here. In the last three months, insiders sold 747,324 shares of company stock worth $23,406,148. Insiders own 2.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of AXTA. State of Alaska Department of Revenue acquired a new position in shares of Axalta Coating Systems during the fourth quarter valued at $504,000. APG Asset Management N.V. lifted its stake in shares of Axalta Coating Systems by 0.8% during the fourth quarter. APG Asset Management N.V. now owns 325,173 shares of the specialty chemicals company’s stock valued at $8,763,000 after acquiring an additional 2,600 shares during the period. BB&T Corp lifted its stake in shares of Axalta Coating Systems by 49.2% during the fourth quarter. BB&T Corp now owns 10,770 shares of the specialty chemicals company’s stock valued at $348,000 after acquiring an additional 3,553 shares during the period. Chicago Equity Partners LLC acquired a new position in shares of Axalta Coating Systems during the fourth quarter valued at $466,000. Finally, Mutual of America Capital Management LLC lifted its stake in shares of Axalta Coating Systems by 30.3% during the fourth quarter. Mutual of America Capital Management LLC now owns 26,495 shares of the specialty chemicals company’s stock valued at $857,000 after acquiring an additional 6,164 shares during the period.

Shares of AXTA stock opened at $31.19 on Thursday. The company has a current ratio of 2.26, a quick ratio of 1.63 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $7.94 billion, a P/E ratio of 26.21, a P/E/G ratio of 1.72 and a beta of 1.32. Axalta Coating Systems has a one year low of $27.77 and a one year high of $38.20.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated water and solvent borne products and systems that are used to refinish 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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