What is Seaport Res Ptn’s Estimate for AXTA FY2024 Earnings?

Axalta Coating Systems Ltd. (NYSE:AXTA) – Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for Axalta Coating Systems in a research note issued to investors on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now anticipates that the specialty chemicals company will post earnings per share of $2.15 for the year, down from their prior forecast of $2.16. The consensus estimate for Axalta Coating Systems’ current full-year earnings is $2.15 per share. Seaport Res Ptn also issued estimates for Axalta Coating Systems’ Q4 2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.63 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.60 EPS and FY2025 earnings at $2.34 EPS.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. Axalta Coating Systems’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business earned $0.45 earnings per share.

AXTA has been the subject of several other reports. Barclays increased their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, November 1st. KeyCorp reaffirmed a “sector weight” rating on shares of Axalta Coating Systems in a research note on Tuesday, December 17th. Wolfe Research upgraded Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Friday, January 17th. BMO Capital Markets lifted their target price on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada upped their target price on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Axalta Coating Systems Stock Up 0.9 %

AXTA opened at $36.86 on Friday. The stock has a market cap of $8.04 billion, a PE ratio of 24.90, a P/E/G ratio of 0.75 and a beta of 1.46. The business’s fifty day simple moving average is $37.12 and its 200 day simple moving average is $36.29. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. Axalta Coating Systems has a 52 week low of $30.40 and a 52 week high of $41.65.

Institutional Investors Weigh In On Axalta Coating Systems

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its stake in Axalta Coating Systems by 89.7% in the second quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company’s stock worth $93,411,000 after acquiring an additional 1,292,434 shares during the period. PointState Capital LP purchased a new position in shares of Axalta Coating Systems in the 3rd quarter valued at $30,257,000. The Manufacturers Life Insurance Company raised its position in shares of Axalta Coating Systems by 19.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,914,764 shares of the specialty chemicals company’s stock worth $99,597,000 after acquiring an additional 475,493 shares in the last quarter. AQR Capital Management LLC grew its stake in Axalta Coating Systems by 126.7% in the second quarter. AQR Capital Management LLC now owns 794,454 shares of the specialty chemicals company’s stock valued at $26,817,000 after purchasing an additional 443,946 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Axalta Coating Systems by 151.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 633,017 shares of the specialty chemicals company’s stock worth $22,909,000 after purchasing an additional 381,488 shares in the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

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.