$1.13 Billion in Sales Expected for Axalta Coating Systems Ltd. (NYSE:AXTA) This Quarter

Wall Street analysts expect that Axalta Coating Systems Ltd. (NYSE:AXTAGet Rating) will announce $1.13 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Axalta Coating Systems’ earnings. The highest sales estimate is $1.16 billion and the lowest is $1.12 billion. Axalta Coating Systems reported sales of $1.06 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 6.6%. The business is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Axalta Coating Systems will report full year sales of $4.87 billion for the current financial year, with estimates ranging from $4.80 billion to $4.95 billion. For the next financial year, analysts expect that the company will report sales of $5.21 billion, with estimates ranging from $5.05 billion to $5.39 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Axalta Coating Systems.

Axalta Coating Systems (NYSE:AXTAGet Rating) last posted its quarterly earnings data on Monday, January 31st. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.01). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Axalta Coating Systems had a net margin of 5.98% and a return on equity of 25.96%. During the same period in the prior year, the firm earned $0.58 EPS.

A number of research firms have issued reports on AXTA. Zacks Investment Research downgraded shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a report on Friday, January 28th. StockNews.com initiated coverage on shares of Axalta Coating Systems in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Royal Bank of Canada cut shares of Axalta Coating Systems from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $33.00 to $26.00 in a research report on Friday, March 25th. Morgan Stanley dropped their target price on shares of Axalta Coating Systems from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Thursday, February 3rd. Finally, TheStreet cut shares of Axalta Coating Systems from a “b-” rating to a “c+” rating in a research report on Monday, March 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $34.45.

In other Axalta Coating Systems news, Director William M. Cook purchased 2,000 shares of the firm’s stock in a transaction on Friday, March 4th. The stock was purchased at an average cost of $24.64 per share, for a total transaction of $49,280.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Axalta Coating Systems by 123.1% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,216,410 shares of the specialty chemicals company’s stock valued at $503,967,000 after purchasing an additional 8,395,583 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Axalta Coating Systems by 0.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 14,998,620 shares of the specialty chemicals company’s stock valued at $496,754,000 after purchasing an additional 128,750 shares during the last quarter. Boston Partners boosted its stake in shares of Axalta Coating Systems by 5.9% in the 4th quarter. Boston Partners now owns 14,880,729 shares of the specialty chemicals company’s stock valued at $492,847,000 after purchasing an additional 822,960 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Axalta Coating Systems by 4.7% in the 4th quarter. JPMorgan Chase & Co. now owns 7,862,760 shares of the specialty chemicals company’s stock valued at $260,414,000 after purchasing an additional 353,099 shares during the last quarter. Finally, Rivulet Capital LLC boosted its stake in shares of Axalta Coating Systems by 3.0% in the 3rd quarter. Rivulet Capital LLC now owns 6,504,142 shares of the specialty chemicals company’s stock valued at $189,856,000 after purchasing an additional 192,500 shares during the last quarter. Hedge funds and other institutional investors own 97.09% of the company’s stock.

NYSE AXTA traded down $0.37 during trading on Friday, reaching $25.13. The company’s stock had a trading volume of 2,176,933 shares, compared to its average volume of 2,168,560. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 2.44. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 0.87 and a beta of 1.42. Axalta Coating Systems has a 12 month low of $21.67 and a 12 month high of $34.20. The firm has a 50 day moving average price of $25.77 and a 200 day moving average price of $29.48.

Axalta Coating Systems Company Profile (Get Rating)

Axalta Coating Systems Ltd. engages in the manufacture, marketing and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.

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Earnings History and Estimates for Axalta Coating Systems (NYSE:AXTA)

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