Axalta Coating Systems (NYSE:AXTA) Updates Q2 2024 Earnings Guidance

Axalta Coating Systems (NYSE:AXTA) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.500-0.500 for the period, compared to the consensus earnings per share estimate of 0.470. The company issued revenue guidance of $1.3 billion-$1.4 billion, compared to the consensus revenue estimate of $1.3 billion. Axalta Coating Systems also updated its FY 2024 guidance to 1.900-2.000 EPS.

Analysts Set New Price Targets

Several equities analysts have recently commented on AXTA shares. UBS Group cut shares of Axalta Coating Systems from a buy rating to a neutral rating and increased their price target for the stock from $35.00 to $36.00 in a research report on Monday, January 8th. Wells Fargo & Company lifted their price objective on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the stock an equal weight rating in a report on Tuesday, January 9th. KeyCorp increased their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock an overweight rating in a report on Thursday. BMO Capital Markets lifted 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. Finally, Robert W. Baird boosted their price objective on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the company an outperform rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Axalta Coating Systems has an average rating of Moderate Buy and an average target price of $38.00.

Axalta Coating Systems Stock Performance

Shares of AXTA stock opened at $35.21 on Friday. Axalta Coating Systems has a 12-month low of $25.03 and a 12-month high of $35.31. 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 firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 1.10 and a beta of 1.51. The business has a 50 day simple moving average of $32.78 and a 200 day simple moving average of $31.82.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, equities research analysts anticipate that Axalta Coating Systems will post 1.9 EPS for the current year.

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. The company operates through two segments, Performance Coatings and Mobility Coatings.