Brokerages Anticipate Axalta Coating Systems Ltd (NYSE:AXTA) Will Announce Quarterly Sales of $1.12 Billion

Equities research analysts expect Axalta Coating Systems Ltd (NYSE:AXTA) to report $1.12 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Axalta Coating Systems’ earnings. The lowest sales estimate is $1.11 billion and the highest is $1.12 billion. Axalta Coating Systems posted sales of $1.14 billion during the same quarter last year, which would indicate a negative year over year growth rate of 1.8%. The business is expected to announce its next earnings results before the market opens on Thursday, October 24th.

According to Zacks, analysts expect that Axalta Coating Systems will report full year sales of $4.57 billion for the current year, with estimates ranging from $4.53 billion to $4.62 billion. For the next fiscal year, analysts expect that the firm will post sales of $4.68 billion, with estimates ranging from $4.56 billion to $4.84 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Axalta Coating Systems.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Axalta Coating Systems had a return on equity of 27.59% and a net margin of 4.45%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 earnings per share.

A number of brokerages have commented on AXTA. Wells Fargo & Co began coverage on Axalta Coating Systems in a research report on Tuesday. They issued a “market perform” rating and a $31.00 price target for the company. Robert W. Baird upped their price target on Axalta Coating Systems from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Berenberg Bank began coverage on Axalta Coating Systems in a research report on Friday, July 12th. They issued a “buy” rating and a $35.00 price target for the company. Bank of America cut Axalta Coating Systems from a “buy” rating to a “neutral” rating in a research report on Friday, August 16th. Finally, Nomura upped their price target on Axalta Coating Systems from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $32.00.

Several large investors have recently added to or reduced their stakes in AXTA. Advisory Services Network LLC grew its position in shares of Axalta Coating Systems by 9.6% during the first quarter. Advisory Services Network LLC now owns 22,797 shares of the specialty chemicals company’s stock worth $575,000 after purchasing an additional 1,995 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Axalta Coating Systems by 3.1% during the first quarter. Nordea Investment Management AB now owns 460,223 shares of the specialty chemicals company’s stock worth $11,602,000 after purchasing an additional 13,905 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Axalta Coating Systems during the first quarter worth about $278,000. Amundi Pioneer Asset Management Inc. grew its position in shares of Axalta Coating Systems by 6.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 127,994 shares of the specialty chemicals company’s stock worth $3,227,000 after purchasing an additional 7,962 shares in the last quarter. Finally, DNB Asset Management AS grew its position in shares of Axalta Coating Systems by 5.7% during the second quarter. DNB Asset Management AS now owns 33,430 shares of the specialty chemicals company’s stock worth $995,000 after purchasing an additional 1,790 shares in the last quarter. Hedge funds and other institutional investors own 98.30% of the company’s stock.

Shares of AXTA opened at $28.79 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 2.92. The business has a 50-day simple moving average of $29.87 and a two-hundred day simple moving average of $28.12. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.26 and a beta of 1.46. Axalta Coating Systems has a 52 week low of $21.58 and a 52 week high of $32.20.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers 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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