Axalta Coating Systems (NYSE:AXTA) Issues FY24 Earnings Guidance

Axalta Coating Systems (NYSE:AXTA) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.90-$2.00 for the period, compared to the consensus EPS estimate of $1.90. Axalta Coating Systems also updated its FY 2024 guidance to 1.900-2.000 EPS.

Analyst Ratings Changes

A number of brokerages have weighed in on AXTA. UBS Group cut shares of Axalta Coating Systems from a buy rating to a neutral rating and lifted their price target for the company from $35.00 to $36.00 in a research report on Monday, January 8th. Citigroup lifted their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company a buy rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. upped their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock an overweight rating in a research report on Thursday. BMO Capital Markets raised their price objective on Axalta Coating Systems from $42.00 to $45.00 and gave the company an outperform rating in a research report on Thursday. Finally, Wells Fargo & Company upped their target price on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an equal weight rating in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $38.00.

Axalta Coating Systems Stock Up 1.1 %

AXTA traded up $0.37 on Friday, reaching $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 1 year low of $25.03 and a 1 year high of $35.31. The business’s 50 day moving average is $32.78 and its 200 day moving average is $31.82. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.46. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51.

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. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the business posted $0.35 EPS. The business’s revenue was up 1.3% on a year-over-year basis. As a group, research analysts forecast that Axalta Coating Systems will post 1.98 EPS for the current fiscal year.

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.