Axalta Coating Systems Ltd (NYSE:AXTA) Forecasted to Post Q3 2020 Earnings of $0.36 Per Share

Axalta Coating Systems Ltd (NYSE:AXTA) – Investment analysts at KeyCorp upped their Q3 2020 EPS estimates for Axalta Coating Systems in a research report issued to clients and investors on Thursday, September 17th. KeyCorp analyst A. Yefremov now forecasts that the specialty chemicals company will earn $0.36 per share for the quarter, up from their previous forecast of $0.34. KeyCorp currently has a “Overweight” rating and a $28.00 price objective on the stock. KeyCorp also issued estimates for Axalta Coating Systems’ FY2020 earnings at $0.93 EPS and FY2021 earnings at $1.79 EPS.

AXTA has been the topic of several other research reports. Deutsche Bank raised their price target on Axalta Coating Systems from $21.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. JPMorgan Chase & Co. raised their price target on Axalta Coating Systems from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, May 29th. They noted that the move was a valuation call. Royal Bank of Canada raised their price target on Axalta Coating Systems from $21.00 to $26.00 in a report on Wednesday, June 17th. Citigroup decreased their price objective on Axalta Coating Systems from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Morgan Stanley raised their price objective on Axalta Coating Systems from $20.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $25.64.

NYSE:AXTA opened at $22.93 on Monday. The business’s 50-day moving average price is $23.61 and its two-hundred day moving average price is $21.35. Axalta Coating Systems has a twelve month low of $12.92 and a twelve month high of $31.26. The stock has a market cap of $5.40 billion, a P/E ratio of 69.48, a PEG ratio of 17.80 and a beta of 1.58. The company has a quick ratio of 2.25, a current ratio of 2.88 and a debt-to-equity ratio of 3.16.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Axalta Coating Systems had a net margin of 1.99% and a return on equity of 19.38%. The business had revenue of $652.70 million during the quarter, compared to analysts’ expectations of $625.17 million. During the same period in the previous year, the business earned $0.52 EPS. The business’s revenue was down 43.6% on a year-over-year basis.

A number of institutional investors and hedge funds have recently bought and sold shares of AXTA. Signaturefd LLC grew its position in shares of Axalta Coating Systems by 58.1% in the 2nd quarter. Signaturefd LLC now owns 1,260 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 463 shares during the last quarter. Arizona State Retirement System grew its position in shares of Axalta Coating Systems by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 49,279 shares of the specialty chemicals company’s stock worth $1,111,000 after buying an additional 679 shares during the last quarter. Investors Research Corp boosted its position in shares of Axalta Coating Systems by 100.0% during the second quarter. Investors Research Corp now owns 1,400 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 700 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Axalta Coating Systems by 0.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 239,910 shares of the specialty chemicals company’s stock valued at $5,410,000 after purchasing an additional 831 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Axalta Coating Systems by 1.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 108,814 shares of the specialty chemicals company’s stock valued at $2,454,000 after purchasing an additional 1,069 shares in the last quarter. Institutional investors and hedge funds own 93.65% of the company’s stock.

In related news, EVP Steven R. Markevich sold 40,857 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $24.00, for a total transaction of $980,568.00. Following the transaction, the executive vice president now directly owns 90,883 shares in the company, valued at approximately $2,181,192. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Steven R. Markevich sold 44,568 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $25.00, for a total value of $1,114,200.00. Following the transaction, the executive vice president now owns 46,315 shares in the company, valued at $1,157,875. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 620,384 shares of company stock worth $14,200,890. 0.50% of the stock is owned by corporate insiders.

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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