Brokerages expect Axalta Coating Systems Ltd. (NYSE:AXTA) to post $949.44 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Axalta Coating Systems' earnings, with estimates ranging from $904.10 million to $970.00 million. Axalta Coating Systems posted sales of $1.11 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 14.5%. The firm is expected to announce its next quarterly earnings results before the market opens on Thursday, October 22nd.
On average, analysts expect that Axalta Coating Systems will report full-year sales of $3.57 billion for the current year, with estimates ranging from $3.45 billion to $3.62 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.08 billion, with estimates ranging from $3.74 billion to $4.32 billion. Zacks Investment Research's sales calculations are a mean average based on a survey of research analysts that follow Axalta Coating Systems.
Axalta Coating Systems (NYSE:AXTA) last announced 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). The business had revenue of $652.70 million during the quarter, compared to the consensus estimate of $625.17 million. Axalta Coating Systems had a return on equity of 19.38% and a net margin of 1.99%. The company's revenue for the quarter was down 43.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 EPS.
Several equities analysts have issued reports on AXTA shares. Credit Suisse Group reaffirmed a "buy" rating and issued a $28.00 price target on shares of Axalta Coating Systems in a report on Thursday, July 30th. Citigroup cut their price target on shares of Axalta Coating Systems from $28.00 to $27.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. KeyCorp lifted their price target on shares of Axalta Coating Systems from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Goldman Sachs Group raised shares of Axalta Coating Systems from a "buy" rating to a "conviction-buy" rating in a report on Wednesday, October 14th. Finally, Morgan Stanley lifted their price target on shares of Axalta Coating Systems from $20.00 to $23.00 and gave the stock an "equal weight" rating in a report on Thursday, June 25th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of "Buy" and a consensus target price of $25.58.
In related news, EVP Steven R. Markevich sold 44,568 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $25.00, for a total transaction of $1,114,200.00. Following the completion of the sale, the executive vice president now directly owns 46,315 shares of the company's stock, valued at $1,157,875. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Berkshire Hathaway Inc sold 534,959 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $22.63, for a total transaction of $12,106,122.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 620,384 shares of company stock valued at $14,200,890. Company insiders own 0.50% of the company's stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC increased its holdings in Axalta Coating Systems by 732.1% during the 1st quarter. Squarepoint Ops LLC now owns 189,296 shares of the specialty chemicals company's stock worth $3,269,000 after purchasing an additional 166,546 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Axalta Coating Systems by 674.9% in the 2nd quarter. Principal Financial Group Inc. now owns 184,052 shares of the specialty chemicals company's stock worth $4,151,000 after acquiring an additional 160,300 shares during the period. Geode Capital Management LLC increased its holdings in shares of Axalta Coating Systems by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 2,315,593 shares of the specialty chemicals company's stock valued at $39,944,000 after purchasing an additional 44,942 shares in the last quarter. Swiss National Bank increased its holdings in shares of Axalta Coating Systems by 2.5% in the 2nd quarter. Swiss National Bank now owns 839,608 shares of the specialty chemicals company's stock valued at $18,933,000 after purchasing an additional 20,100 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Axalta Coating Systems in the 1st quarter valued at about $306,000. 93.65% of the stock is owned by institutional investors and hedge funds.
NYSE AXTA opened at $25.64 on Monday. The firm's fifty day simple moving average is $23.76 and its two-hundred day simple moving average is $21.98. The company has a current ratio of 2.88, a quick ratio of 2.25 and a debt-to-equity ratio of 3.16. Axalta Coating Systems has a 12-month low of $12.92 and a 12-month high of $31.26. The firm has a market capitalization of $6.03 billion, a P/E ratio of 77.70, a P/E/G ratio of 16.89 and a beta of 1.55.
Axalta Coating Systems Company Profile
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. It operates through two segments, Performance Coatings and Transportation Coatings. The company offers water and solvent borne products and systems used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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