Axalta Coating Systems (NYSE:AXTA) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Axalta Coating Systems (NYSE:AXTA) posted its earnings results on Wednesday. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.08, Briefing.com reports. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a net margin of 5.16% and a return on equity of 20.70%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS.

Axalta Coating Systems Trading Up 2.6 %

Shares of Axalta Coating Systems stock traded up $0.88 during trading on Thursday, hitting $35.09. The stock had a trading volume of 812,218 shares, compared to its average volume of 2,072,673. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.98 and a quick ratio of 1.46. Axalta Coating Systems has a 12 month low of $25.03 and a 12 month high of $35.15. The stock has a market cap of $7.74 billion, a PE ratio of 29.16, a PEG ratio of 1.02 and a beta of 1.51. The firm’s fifty day simple moving average is $32.72 and its 200-day simple moving average is $31.80.

Wall Street Analysts Forecast Growth

AXTA has been the topic of a number of recent research reports. Wolfe Research began coverage on Axalta Coating Systems in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. Mizuho decreased their target price on Axalta Coating Systems from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $35.00 to $36.00 in a research note on Monday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Finally, Robert W. Baird increased their target price on Axalta Coating Systems from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Axalta Coating Systems has a consensus rating of “Moderate Buy” and a consensus price target of $37.23.

About Axalta Coating Systems

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.