Axalta Coating Systems Ltd (AXTA) Expected to Announce Quarterly Sales of $1.14 Billion

Equities research analysts forecast that Axalta Coating Systems Ltd (NYSE:AXTA) will report $1.14 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Axalta Coating Systems’ earnings, with estimates ranging from $1.14 billion to $1.15 billion. Axalta Coating Systems reported sales of $1.17 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.6%. The business is expected to announce its next earnings results before the market opens on Wednesday, April 24th.

On average, analysts expect that Axalta Coating Systems will report full-year sales of $4.75 billion for the current fiscal year, with estimates ranging from $4.71 billion to $4.78 billion. For the next year, analysts anticipate that the business will report sales of $4.89 billion, with estimates ranging from $4.82 billion to $5.01 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Axalta Coating Systems.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. Axalta Coating Systems had a return on equity of 22.20% and a net margin of 4.42%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. The company’s revenue was down 4.0% compared to the same quarter last year.

AXTA has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Thursday, December 27th. Bank of America upgraded Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $30.30.

In other news, EVP Joseph F. Mcdougall sold 1,160 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $26.00, for a total value of $30,160.00. Following the transaction, the executive vice president now owns 78,497 shares in the company, valued at $2,040,922. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andreas Kramvis sold 55,048 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $28.11, for a total value of $1,547,399.28. Following the completion of the transaction, the director now owns 50,628 shares in the company, valued at approximately $1,423,153.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 962,918 shares of company stock worth $25,373,442. Company insiders own 2.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. We Are One Seven LLC acquired a new stake in shares of Axalta Coating Systems in the fourth quarter valued at approximately $40,000. Covington Capital Management acquired a new stake in shares of Axalta Coating Systems in the fourth quarter valued at approximately $68,000. ETF Managers Group LLC increased its holdings in shares of Axalta Coating Systems by 15.8% in the fourth quarter. ETF Managers Group LLC now owns 4,318 shares of the specialty chemicals company’s stock valued at $101,000 after purchasing an additional 588 shares during the last quarter. Ffcm LLC increased its holdings in shares of Axalta Coating Systems by 186.1% in the fourth quarter. Ffcm LLC now owns 4,532 shares of the specialty chemicals company’s stock valued at $106,000 after purchasing an additional 2,948 shares during the last quarter. Finally, Berman Capital Advisors LLC acquired a new stake in shares of Axalta Coating Systems in the fourth quarter valued at approximately $135,000.

Shares of AXTA traded down $1.17 during mid-day trading on Friday, reaching $26.50. The company had a trading volume of 4,234,136 shares, compared to its average volume of 1,898,853. Axalta Coating Systems has a 52-week low of $21.58 and a 52-week high of $32.83. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 2.92. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 1.61 and a beta of 1.24.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers 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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