Brokerages Anticipate Axalta Coating Systems Ltd (AXTA) Will Announce Quarterly Sales of $1.16 Billion

Wall Street analysts expect that Axalta Coating Systems Ltd (NYSE:AXTA) will post $1.16 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Axalta Coating Systems’ earnings, with estimates ranging from $1.13 billion to $1.19 billion. Axalta Coating Systems reported sales of $1.10 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.5%. The business is scheduled to issue its next earnings results on Thursday, October 25th.

On average, analysts expect that Axalta Coating Systems will report full-year sales of $4.77 billion for the current year, with estimates ranging from $4.73 billion to $4.82 billion. For the next financial year, analysts expect that the business will post sales of $4.93 billion per share, with estimates ranging from $4.81 billion to $5.07 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Axalta Coating Systems.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Wednesday, July 25th. The specialty chemicals company reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. Axalta Coating Systems had a return on equity of 21.32% and a net margin of 2.97%. Axalta Coating Systems’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS.

AXTA has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded Axalta Coating Systems from a “neutral” rating to an “overweight” rating and set a $33.00 price target for the company in a report on Friday, July 27th. Bank of America upgraded Axalta Coating Systems from an “underperform” rating to a “neutral” rating and set a $35.00 price target for the company in a report on Friday, April 27th. Zacks Investment Research raised shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. BMO Capital Markets boosted their price objective on shares of Axalta Coating Systems from $33.00 to $34.00 and gave the company a “market perform” rating in a research note on Thursday, April 26th. Finally, Seaport Global Securities cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $33.79.

In related news, VP Sean M. Lannon sold 3,892 shares of the company’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $31.12, for a total transaction of $121,119.04. Following the completion of the sale, the vice president now directly owns 25,273 shares of the company’s stock, valued at approximately $786,495.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles W. Shaver sold 379,490 shares of the company’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $31.21, for a total transaction of $11,843,882.90. Following the sale, the chief executive officer now directly owns 620,318 shares of the company’s stock, valued at $19,360,124.78. The disclosure for this sale can be found here. Insiders have sold a total of 619,920 shares of company stock valued at $19,367,798 over the last three months. Corporate insiders own 2.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. US Bancorp DE boosted its position in Axalta Coating Systems by 11.6% during the 2nd quarter. US Bancorp DE now owns 32,843 shares of the specialty chemicals company’s stock worth $996,000 after purchasing an additional 3,418 shares during the period. AMI Investment Management Inc. boosted its position in Axalta Coating Systems by 2.9% during the 2nd quarter. AMI Investment Management Inc. now owns 87,540 shares of the specialty chemicals company’s stock worth $2,653,000 after purchasing an additional 2,490 shares during the period. American Century Companies Inc. purchased a new stake in Axalta Coating Systems during the 2nd quarter worth $346,000. Russell Investments Group Ltd. boosted its position in Axalta Coating Systems by 30.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 26,698 shares of the specialty chemicals company’s stock worth $811,000 after purchasing an additional 6,207 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in Axalta Coating Systems by 163.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 45,300 shares of the specialty chemicals company’s stock worth $1,373,000 after purchasing an additional 28,100 shares during the period.

Shares of Axalta Coating Systems opened at $30.25 on Thursday, according to Marketbeat.com. The company has a debt-to-equity ratio of 2.73, a current ratio of 2.27 and a quick ratio of 1.67. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 1.65 and a beta of 1.28. Axalta Coating Systems has a fifty-two week low of $27.92 and a fifty-two week high of $38.20.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated 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.

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