Axalta Coating Systems Ltd. (NYSE:AXTA) to Post FY2022 Earnings of $1.45 Per Share, Seaport Res Ptn Forecasts

Axalta Coating Systems Ltd. (NYSE:AXTAGet Rating) – Analysts at Seaport Res Ptn reduced their FY2022 EPS estimates for Axalta Coating Systems in a research report issued to clients and investors on Wednesday, January 18th. Seaport Res Ptn analyst M. Harrison now anticipates that the specialty chemicals company will post earnings of $1.45 per share for the year, down from their previous forecast of $1.47. The consensus estimate for Axalta Coating Systems’ current full-year earnings is $1.46 per share. Seaport Res Ptn also issued estimates for Axalta Coating Systems’ Q4 2022 earnings at $0.35 EPS, Q1 2023 earnings at $0.34 EPS, Q2 2023 earnings at $0.44 EPS, Q3 2023 earnings at $0.46 EPS, Q4 2023 earnings at $0.48 EPS, FY2023 earnings at $1.71 EPS and FY2024 earnings at $2.13 EPS.

Axalta Coating Systems (NYSE:AXTAGet Rating) last announced its earnings results on Tuesday, October 25th. The specialty chemicals company reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. Axalta Coating Systems had a net margin of 4.20% and a return on equity of 22.19%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business posted $0.39 earnings per share. Axalta Coating Systems’s quarterly revenue was up 13.8% on a year-over-year basis.

Other analysts also recently issued research reports about the stock. Exane BNP Paribas downgraded shares of Axalta Coating Systems from an “outperform” rating to a “neutral” rating and set a $27.00 target price for the company. in a research report on Friday, October 28th. KeyCorp raised their price objective on shares of Axalta Coating Systems from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, January 12th. Citigroup raised their price objective on shares of Axalta Coating Systems from $25.60 to $30.29 in a research report on Thursday, December 15th. StockNews.com downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 12th. Finally, Morgan Stanley cut their target price on Axalta Coating Systems from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, October 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Axalta Coating Systems has an average rating of “Hold” and a consensus target price of $28.08.

Axalta Coating Systems Stock Down 3.6 %

AXTA stock opened at $26.08 on Thursday. The firm has a 50-day moving average price of $26.19 and a 200-day moving average price of $24.86. Axalta Coating Systems has a 12 month low of $20.66 and a 12 month high of $31.65. The company has a current ratio of 1.98, a quick ratio of 1.36 and a debt-to-equity ratio of 2.78. The stock has a market capitalization of $5.75 billion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 1.71 and a beta of 1.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Atticus Wealth Management LLC bought a new position in Axalta Coating Systems in the second quarter valued at about $32,000. Parallel Advisors LLC grew its position in shares of Axalta Coating Systems by 42.8% during the second quarter. Parallel Advisors LLC now owns 2,134 shares of the specialty chemicals company’s stock worth $47,000 after purchasing an additional 640 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Axalta Coating Systems during the 4th quarter valued at approximately $105,000. M&T Bank Corp purchased a new position in Axalta Coating Systems during the 2nd quarter valued at approximately $192,000. Finally, Xponance Inc. purchased a new position in Axalta Coating Systems during the 2nd quarter valued at approximately $204,000.

Axalta Coating Systems Company Profile

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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. It operates through two segments, Performance Coatings and Transportation Coatings. The company offers water and solvent-borne products and systems to repair 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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