Wall Street brokerages forecast that Axalta Coating Systems Ltd (NYSE:AXTA) will report $0.46 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Axalta Coating Systems’ earnings. The lowest EPS estimate is $0.44 and the highest is $0.47. Axalta Coating Systems reported earnings of $0.32 per share in the same quarter last year, which indicates a positive year over year growth rate of 43.8%. The firm is expected to report its next earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Axalta Coating Systems will report full-year earnings of $1.79 per share for the current fiscal year, with EPS estimates ranging from $1.75 to $1.83. For the next financial year, analysts expect that the company will post earnings of $1.95 per share, with EPS estimates ranging from $1.80 to $2.07. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Axalta Coating Systems.
Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. Axalta Coating Systems had a net margin of 4.45% and a return on equity of 27.59%. Axalta Coating Systems’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 earnings per share.
Shares of AXTA stock traded up $0.21 during trading hours on Friday, hitting $27.73. 1,405,500 shares of the company’s stock were exchanged, compared to its average volume of 2,452,158. The company has a market capitalization of $6.43 billion, a PE ratio of 21.66, a PEG ratio of 1.19 and a beta of 1.46. Axalta Coating Systems has a 12-month low of $21.58 and a 12-month high of $32.14. The business’s 50 day simple moving average is $29.55 and its 200-day simple moving average is $27.14. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 2.92.
In related news, Director Charles W. Shaver sold 500,000 shares of Axalta Coating Systems stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $25.24, for a total value of $12,620,000.00. Following the transaction, the director now directly owns 492,369 shares of the company’s stock, valued at $12,427,393.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in Axalta Coating Systems by 73.4% during the 2nd quarter. Renaissance Technologies LLC now owns 4,691,100 shares of the specialty chemicals company’s stock valued at $139,654,000 after purchasing an additional 1,986,400 shares during the period. Nuveen Asset Management LLC purchased a new position in Axalta Coating Systems during the 2nd quarter valued at $123,812,000. Senator Investment Group LP purchased a new position in Axalta Coating Systems during the 2nd quarter valued at $119,080,000. Bessemer Group Inc. increased its position in Axalta Coating Systems by 1.6% during the 2nd quarter. Bessemer Group Inc. now owns 3,739,089 shares of the specialty chemicals company’s stock valued at $111,313,000 after purchasing an additional 58,783 shares during the period. Finally, Parnassus Investments CA increased its position in Axalta Coating Systems by 4.2% during the 1st quarter. Parnassus Investments CA now owns 3,733,396 shares of the specialty chemicals company’s stock valued at $94,119,000 after purchasing an additional 148,835 shares during the period. 97.90% of the stock is currently owned by institutional investors.
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.
Read More: What is the operating income formula?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Axalta Coating Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems and related companies with MarketBeat.com's FREE daily email newsletter.