Seaport Global Securities Comments on Axalta Coating Systems Ltd’s Q1 2019 Earnings (AXTA)

Axalta Coating Systems Ltd (NYSE:AXTA) – Equities research analysts at Seaport Global Securities reduced their Q1 2019 earnings per share (EPS) estimates for shares of Axalta Coating Systems in a report issued on Monday, April 15th. Seaport Global Securities analyst M. Harrison now forecasts that the specialty chemicals company will post earnings per share of $0.21 for the quarter, down from their prior forecast of $0.22. Seaport Global Securities also issued estimates for Axalta Coating Systems’ FY2019 earnings at $1.35 EPS, Q1 2020 earnings at $0.28 EPS, Q2 2020 earnings at $0.43 EPS, Q3 2020 earnings at $0.41 EPS, Q4 2020 earnings at $0.44 EPS and FY2020 earnings at $1.56 EPS.

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

AXTA has been the subject of several other research reports. Zacks Investment Research upgraded Axalta Coating Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 20th. Bank of America upgraded Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Tuesday, January 8th. Finally, UBS Group set a $32.00 price objective on Axalta Coating Systems and gave the company a “buy” rating in a report on Thursday, December 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Axalta Coating Systems currently has an average rating of “Hold” and a consensus price target of $30.30.

NYSE AXTA opened at $27.50 on Tuesday. The company has a market cap of $6.46 billion, a PE ratio of 21.48, a PEG ratio of 1.56 and a beta of 1.24. Axalta Coating Systems has a 52 week low of $21.58 and a 52 week high of $32.83. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 2.92.

Institutional investors have recently made changes to their positions in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Axalta Coating Systems by 43.7% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 24,166 shares of the specialty chemicals company’s stock worth $565,000 after buying an additional 7,350 shares in the last quarter. DNB Asset Management AS grew its stake in Axalta Coating Systems by 64.0% in the 4th quarter. DNB Asset Management AS now owns 33,301 shares of the specialty chemicals company’s stock valued at $780,000 after purchasing an additional 13,001 shares during the period. Federated Investors Inc. PA grew its stake in Axalta Coating Systems by 790.5% in the 3rd quarter. Federated Investors Inc. PA now owns 986,235 shares of the specialty chemicals company’s stock valued at $28,759,000 after purchasing an additional 875,480 shares during the period. Prudential Financial Inc. grew its stake in Axalta Coating Systems by 35.0% in the 3rd quarter. Prudential Financial Inc. now owns 10,810 shares of the specialty chemicals company’s stock valued at $315,000 after purchasing an additional 2,800 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. grew its stake in Axalta Coating Systems by 5.8% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 68,063 shares of the specialty chemicals company’s stock valued at $1,594,000 after purchasing an additional 3,720 shares during the period.

In related news, Director Charles W. Shaver sold 126,862 shares of the company’s stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $25.05, for a total transaction of $3,177,893.10. Following the completion of the sale, the director now owns 567,690 shares in the company, valued at $14,220,634.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael A. Cash sold 5,483 shares of the company’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $25.72, for a total value of $141,022.76. The disclosure for this sale can be found here. Insiders have sold 1,034,732 shares of company stock valued at $27,003,936 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers 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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Earnings History and Estimates for Axalta Coating Systems (NYSE:AXTA)

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