Zacks: Brokerages Anticipate Axalta Coating Systems (AXTA) Will Post Quarterly Sales of $1.13 Billion

Analysts expect Axalta Coating Systems (NYSE:AXTA) to announce $1.13 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Axalta Coating Systems’ earnings, with the highest sales estimate coming in at $1.16 billion and the lowest estimate coming in at $1.11 billion. Axalta Coating Systems reported sales of $1.01 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 11.9%. The company is scheduled to report its next earnings report on Wednesday, April 25th.

According to Zacks, 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 $4.85 billion. For the next financial year, analysts anticipate that the firm will report sales of $4.89 billion per share, with estimates ranging from $4.74 billion to $5.11 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Axalta Coating Systems.

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Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Axalta Coating Systems had a net margin of 0.84% and a return on equity of 20.91%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.16) earnings per share.

A number of analysts have commented on AXTA shares. Raymond James Financial started coverage on shares of Axalta Coating Systems in a research note on Tuesday, December 19th. They issued a “market perform” rating for the company. UBS started coverage on shares of Axalta Coating Systems in a research note on Tuesday, December 19th. They issued a “market perform” rating for the company. TheStreet cut shares of Axalta Coating Systems from a “b-” rating to a “c+” rating in a research note on Thursday, December 28th. Zacks Investment Research cut shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Finally, Bank of America set a $28.00 price target on shares of Axalta Coating Systems and gave the company an “underperform” rating in a research note on Tuesday, January 16th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Axalta Coating Systems has a consensus rating of “Hold” and a consensus target price of $33.47.

In other news, EVP Steven R. Markevich sold 3,125 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $30.58, for a total transaction of $95,562.50. Following the completion of the sale, the executive vice president now owns 199,628 shares in the company, valued at approximately $6,104,624.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Steven R. Markevich sold 82,838 shares of the firm’s stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $30.61, for a total transaction of $2,535,671.18. Following the sale, the executive vice president now owns 323,875 shares of the company’s stock, valued at approximately $9,913,813.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 617,688 shares of company stock valued at $19,020,157. 2.10% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of AXTA. Bank of New York Mellon Corp raised its stake in Axalta Coating Systems by 7.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 894,612 shares of the specialty chemicals company’s stock worth $25,872,000 after purchasing an additional 61,447 shares in the last quarter. Legal & General Group Plc raised its stake in Axalta Coating Systems by 17.3% in the 3rd quarter. Legal & General Group Plc now owns 316,968 shares of the specialty chemicals company’s stock worth $9,168,000 after purchasing an additional 46,703 shares in the last quarter. Wells Fargo & Company MN raised its stake in Axalta Coating Systems by 17.0% in the 3rd quarter. Wells Fargo & Company MN now owns 1,797,121 shares of the specialty chemicals company’s stock worth $51,973,000 after purchasing an additional 261,712 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Axalta Coating Systems by 4.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 942,894 shares of the specialty chemicals company’s stock worth $27,269,000 after purchasing an additional 42,450 shares in the last quarter. Finally, KBC Group NV raised its stake in Axalta Coating Systems by 17.7% in the 3rd quarter. KBC Group NV now owns 26,330 shares of the specialty chemicals company’s stock worth $761,000 after purchasing an additional 3,960 shares in the last quarter.

Axalta Coating Systems stock traded up $0.36 during mid-day trading on Monday, reaching $32.65. The company’s stock had a trading volume of 968,107 shares, compared to its average volume of 1,837,860. The company has a market cap of $7,875.53, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 2.06 and a beta of 1.32. The company has a current ratio of 2.14, a quick ratio of 1.58 and a debt-to-equity ratio of 2.75. Axalta Coating Systems has a 12 month low of $27.77 and a 12 month high of $38.20.

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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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