Zacks: Brokerages Anticipate Axalta Coating Systems Ltd (AXTA) Will Announce Earnings of $0.22 Per Share

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Equities research analysts expect Axalta Coating Systems Ltd (NYSE:AXTA) to report $0.22 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Axalta Coating Systems’ earnings. The highest EPS estimate is $0.32 and the lowest is $0.19. Axalta Coating Systems reported earnings per share of $0.27 during the same quarter last year, which suggests a negative year over year growth rate of 18.5%. The company is expected to announce its next quarterly earnings results on Wednesday, April 24th.

On average, analysts expect that Axalta Coating Systems will report full year earnings of $1.34 per share for the current financial year, with EPS estimates ranging from $1.29 to $1.40. For the next financial year, analysts forecast that the business will report earnings of $1.51 per share, with EPS estimates ranging from $1.44 to $1.59. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Axalta Coating Systems.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Wednesday, January 30th. The specialty chemicals company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. Axalta Coating Systems had a net margin of 4.42% and a return on equity of 22.20%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm posted ($0.26) EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year.

AXTA has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Thursday, December 27th. Credit Suisse Group set a $34.00 price objective on shares of Axalta Coating Systems and gave the stock a “buy” rating in a research report on Thursday, December 13th. UBS Group set a $32.00 price objective on shares of Axalta Coating Systems and gave the stock a “buy” rating in a research report on Thursday, December 20th. Finally, Bank of America raised shares of Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Axalta Coating Systems presently has an average rating of “Hold” and an average price target of $30.30.

AXTA stock traded down $0.08 during trading on Monday, reaching $24.80. The stock had a trading volume of 1,624,956 shares, compared to its average volume of 1,829,288. Axalta Coating Systems has a one year low of $21.58 and a one year high of $32.99. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.63 and a current ratio of 2.22. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.42 and a beta of 1.25.

In other news, Director Charles W. Shaver sold 2,180 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $27.10, for a total transaction of $59,078.00. Following the completion of the transaction, the director now directly owns 244,549 shares of the company’s stock, valued at approximately $6,627,277.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles W. Shaver sold 500,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $26.71, for a total transaction of $13,355,000.00. Following the transaction, the director now directly owns 394,656 shares of the company’s stock, valued at $10,541,261.76. The disclosure for this sale can be found here. Insiders have sold a total of 964,729 shares of company stock valued at $25,102,588 over the last three months. Insiders own 2.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXTA. We Are One Seven LLC bought a new position in Axalta Coating Systems in the 4th quarter worth approximately $40,000. Covington Capital Management bought a new position in Axalta Coating Systems in the 4th quarter worth approximately $68,000. ETF Managers Group LLC boosted its holdings in Axalta Coating Systems by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 4,318 shares of the specialty chemicals company’s stock worth $101,000 after buying an additional 588 shares during the period. Ffcm LLC boosted its holdings in Axalta Coating Systems by 186.1% in the 4th quarter. Ffcm LLC now owns 4,532 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 2,948 shares during the period. Finally, Berman Capital Advisors LLC bought a new position in Axalta Coating Systems in the 4th quarter worth approximately $135,000.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated 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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