Zacks: Brokerages Anticipate Axalta Coating Systems Ltd (AXTA) Will Announce Earnings of $0.39 Per Share

Brokerages expect Axalta Coating Systems Ltd (NASDAQ:AXTA) to report earnings per share (EPS) of $0.39 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Axalta Coating Systems’ earnings, with estimates ranging from $0.35 to $0.43. Axalta Coating Systems posted earnings per share of $0.34 during the same quarter last year, which suggests a positive year over year growth rate of 14.7%. The business is scheduled to announce its next quarterly earnings report on Tuesday, July 25th.

On average, analysts expect that Axalta Coating Systems will report full year earnings of $1.41 per share for the current year, with EPS estimates ranging from $1.32 to $1.50. For the next year, analysts forecast that the company will report earnings of $1.63 per share, with EPS estimates ranging from $1.50 to $1.75. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Axalta Coating Systems.

Axalta Coating Systems (NASDAQ:AXTA) last posted its earnings results on Wednesday, April 26th. The specialty chemicals company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. Axalta Coating Systems had a return on equity of 21.46% and a net margin of 6.50%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $994.43 million. During the same period last year, the company earned $0.18 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year.

A number of equities analysts have recently commented on the stock. Jefferies Group LLC set a $36.00 price objective on shares of Axalta Coating Systems and gave the stock a “buy” rating in a research note on Saturday, March 25th. Instinet downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Friday, April 21st. Zacks Investment Research downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Nomura downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Friday, April 21st. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $33.00 target price (up from $30.00) on shares of Axalta Coating Systems in a research note on Friday, April 14th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Axalta Coating Systems has a consensus rating of “Hold” and an average price target of $33.73.

Axalta Coating Systems (NASDAQ:AXTA) traded up 1.02% during trading on Tuesday, reaching $33.76. The company’s stock had a trading volume of 1,645,754 shares. The company’s 50 day moving average price is $31.99 and its 200 day moving average price is $30.02. The company has a market cap of $8.17 billion and a P/E ratio of 111.79. Axalta Coating Systems has a 52 week low of $24.27 and a 52 week high of $33.77.

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In other news, CFO Robert W. Bryant sold 114,500 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $31.76, for a total transaction of $3,636,520.00. Following the transaction, the chief financial officer now directly owns 368,471 shares of the company’s stock, valued at $11,702,638.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles W. Shaver sold 179,487 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $31.32, for a total transaction of $5,621,532.84. Following the transaction, the chief executive officer now directly owns 528,907 shares in the company, valued at $16,565,367.24. The disclosure for this sale can be found here. Insiders have sold 435,489 shares of company stock worth $13,728,870 over the last ninety days.

Several hedge funds and other institutional investors have recently made changes to their positions in AXTA. Achmea Investment Management B.V. acquired a new position in shares of Axalta Coating Systems during the first quarter valued at approximately $397,000. Goldman Sachs Group Inc. boosted its position in shares of Axalta Coating Systems by 36.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,449,160 shares of the specialty chemicals company’s stock valued at $46,663,000 after buying an additional 387,853 shares in the last quarter. YG Partners LLC boosted its position in shares of Axalta Coating Systems by 56.7% in the first quarter. YG Partners LLC now owns 538,163 shares of the specialty chemicals company’s stock valued at $17,329,000 after buying an additional 194,650 shares in the last quarter. Aristotle Capital Management LLC boosted its position in shares of Axalta Coating Systems by 0.3% in the first quarter. Aristotle Capital Management LLC now owns 70,900 shares of the specialty chemicals company’s stock valued at $2,283,000 after buying an additional 180 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Axalta Coating Systems during the first quarter valued at approximately $20,160,000.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base.

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