Axalta Coating Systems (NYSE:AXTA) Issues FY 2024 Earnings Guidance

Axalta Coating Systems (NYSE:AXTA) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.900-2.000 for the period. The company issued revenue guidance of -. Axalta Coating Systems also updated its FY24 guidance to $1.90-$2.00 EPS.

Analyst Upgrades and Downgrades

Several brokerages have commented on AXTA. Mizuho cut their target price on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating for the company in a research note on Thursday. Robert W. Baird increased their target price on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the stock an outperform rating in a research note on Thursday. UBS Group lowered shares of Axalta Coating Systems from a buy rating to a neutral rating and boosted their price target for the company from $35.00 to $36.00 in a research report on Monday, January 8th. Royal Bank of Canada increased their price objective on Axalta Coating Systems from $39.00 to $42.00 and gave the stock an outperform rating in a research report on Friday. Finally, Wells Fargo & Company upped their target price on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an equal weight rating in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $38.00.

Axalta Coating Systems Trading Up 1.1 %

NYSE:AXTA traded up $0.37 during mid-day trading on Friday, reaching $35.20. 3,991,263 shares of the company’s stock traded hands, compared to its average volume of 2,581,191. Axalta Coating Systems has a 12-month low of $25.03 and a 12-month high of $35.31. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.46. The company has a 50 day moving average price of $32.78 and a 200-day moving average price of $31.82. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.08 and a beta of 1.51.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the business posted $0.35 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts predict that Axalta Coating Systems will post 1.98 earnings per share for the current year.

Axalta Coating Systems Company Profile

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.