Axalta Coating Systems (NYSE:AXTA) Issues Q2 Earnings Guidance

Axalta Coating Systems (NYSE:AXTA) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.50 for the period, compared to the consensus EPS estimate of $0.47. The company issued revenue guidance of $1.33-$1.39 billion, compared to the consensus revenue estimate of $1.34 billion. Axalta Coating Systems also updated its FY 2024 guidance to 1.900-2.000 EPS.

Axalta Coating Systems Stock Performance

NYSE AXTA traded up $0.37 during trading on Friday, hitting $35.20. The company’s stock had a trading volume of 3,991,263 shares, compared to its average volume of 2,581,191. Axalta Coating Systems has a 52 week low of $25.03 and a 52 week high of $35.31. The firm has a market cap of $7.77 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51. 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 quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 1.92.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.40 by $0.08. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. Equities research analysts forecast that Axalta Coating Systems will post 1.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AXTA. Mizuho decreased their price objective on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating on the stock in a report on Thursday. Wells Fargo & Company boosted their price target on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the company an equal weight rating in a report on Tuesday, January 9th. BMO Capital Markets raised their price objective on shares of Axalta Coating Systems from $42.00 to $45.00 and gave the stock an outperform rating in a report on Thursday. Wolfe Research initiated coverage on shares of Axalta Coating Systems in a research report on Friday, March 1st. They issued a peer perform rating for the company. Finally, Royal Bank of Canada lifted their price objective on Axalta Coating Systems from $39.00 to $42.00 and gave the company an outperform rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Axalta Coating Systems presently has a consensus rating of Moderate Buy and a consensus target price of $38.00.

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.