Axalta Coating Systems (NYSE:AXTA – Get Free Report) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.50 for the period, compared to the consensus EPS estimate of $0.47. The company issued revenue guidance of $1.33-$1.39 billion, compared to the consensus revenue estimate of $1.34 billion. Axalta Coating Systems also updated its FY 2024 guidance to 1.900-2.000 EPS.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Barclays boosted their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a research report on Thursday. KeyCorp boosted their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a research report on Thursday. Wolfe Research started coverage on shares of Axalta Coating Systems in a research note on Friday, March 1st. They set a peer perform rating for the company. Royal Bank of Canada boosted their target price on shares of Axalta Coating Systems from $39.00 to $42.00 and gave the company an outperform rating in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $38.00.
Read Our Latest Report on Axalta Coating Systems
Axalta Coating Systems Trading Up 1.1 %
Axalta Coating Systems (NYSE:AXTA – Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, equities analysts expect that Axalta Coating Systems will post 1.98 earnings per share for the current 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.
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