Brokers Set Expectations for Axalta Coating Systems Ltd.’s Q2 2024 Earnings (NYSE:AXTA)

Axalta Coating Systems Ltd. (NYSE:AXTA) – Seaport Res Ptn lifted their Q2 2024 earnings per share (EPS) estimates for shares of Axalta Coating Systems in a note issued to investors on Wednesday, May 1st. Seaport Res Ptn analyst M. Harrison now anticipates that the specialty chemicals company will post earnings of $0.50 per share for the quarter, up from their previous forecast of $0.49. The consensus estimate for Axalta Coating Systems’ current full-year earnings is $1.90 per share. Seaport Res Ptn also issued estimates for Axalta Coating Systems’ Q4 2025 earnings at $0.61 EPS.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. Axalta Coating Systems’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share.

Several other brokerages also recently commented on AXTA. JPMorgan Chase & Co. raised their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday. BMO Capital Markets upped their price target on shares of Axalta Coating Systems from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup increased their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. UBS Group lowered Axalta Coating Systems from a “buy” rating to a “neutral” rating and boosted their price target for the company from $35.00 to $36.00 in a report on Monday, January 8th. Finally, Barclays boosted their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.54.

Axalta Coating Systems Stock Up 1.9 %

Shares of NYSE AXTA opened at $34.86 on Friday. The firm has a 50 day moving average price of $32.78 and a 200 day moving average price of $31.82. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.46 and a current ratio of 2.07. The stock has a market cap of $7.69 billion, a P/E ratio of 31.41, a P/E/G ratio of 1.10 and a beta of 1.51. Axalta Coating Systems has a 52-week low of $25.03 and a 52-week high of $35.21.

Institutional Trading of Axalta Coating Systems

Several large investors have recently modified their holdings of AXTA. Fifth Third Bancorp boosted its holdings in shares of Axalta Coating Systems by 47.7% in the 4th quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 338 shares in the last quarter. TFO Wealth Partners LLC raised its stake in Axalta Coating Systems by 12,022.2% during the fourth quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 1,082 shares in the last quarter. Raleigh Capital Management Inc. bought a new position in shares of Axalta Coating Systems in the fourth quarter worth about $48,000. CWM LLC boosted its stake in shares of Axalta Coating Systems by 35.6% in the 3rd quarter. CWM LLC now owns 2,474 shares of the specialty chemicals company’s stock valued at $67,000 after purchasing an additional 649 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in Axalta Coating Systems in the 4th quarter valued at approximately $88,000. 98.28% of the stock is owned by institutional investors and hedge funds.

About Axalta Coating Systems

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.