Q4 2018 EPS Estimates for Axalta Coating Systems Ltd Reduced by Seaport Global Securities (AXTA)

Axalta Coating Systems Ltd (NYSE:AXTA) – Equities researchers at Seaport Global Securities lowered their Q4 2018 earnings per share estimates for Axalta Coating Systems in a research report issued on Monday, October 29th. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will post earnings of $0.32 per share for the quarter, down from their prior estimate of $0.34. Seaport Global Securities has a “Buy” rating and a $31.00 price objective on the stock. Seaport Global Securities also issued estimates for Axalta Coating Systems’ Q1 2019 earnings at $0.27 EPS, Q2 2019 earnings at $0.37 EPS, Q4 2019 earnings at $0.39 EPS and FY2020 earnings at $1.62 EPS.

A number of other equities research analysts have also issued reports on the company. Nomura reduced their target price on Axalta Coating Systems from $34.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, October 15th. KeyCorp reduced their target price on Axalta Coating Systems from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Barclays reaffirmed a “hold” rating and issued a $32.00 target price on shares of Axalta Coating Systems in a research note on Tuesday, July 31st. Zacks Investment Research lowered Axalta Coating Systems from a “hold” rating to a “sell” rating in a research note on Monday, October 1st. Finally, Citigroup reduced their target price on Axalta Coating Systems from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, October 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.36.

AXTA stock opened at $25.46 on Wednesday. Axalta Coating Systems has a 1 year low of $23.65 and a 1 year high of $38.20. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.63 and a current ratio of 2.23. The company has a market capitalization of $5.87 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.34 and a beta of 1.26.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Thursday, October 25th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Axalta Coating Systems had a return on equity of 22.53% and a net margin of 1.49%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion.

In other Axalta Coating Systems news, Director Robert M. Mclaughlin sold 4,920 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $30.33, for a total value of $149,223.60. Following the completion of the transaction, the director now directly owns 39,442 shares in the company, valued at approximately $1,196,275.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles W. Shaver sold 250,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $29.73, for a total value of $7,432,500.00. Following the completion of the transaction, the director now owns 690,828 shares of the company’s stock, valued at $20,538,316.44. The disclosure for this sale can be found here. Insiders sold a total of 345,391 shares of company stock valued at $10,268,682 over the last quarter. 2.30% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Moneta Group Investment Advisors LLC increased its holdings in shares of Axalta Coating Systems by 113.6% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,983 shares of the specialty chemicals company’s stock worth $121,000 after buying an additional 2,118 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Axalta Coating Systems by 78.1% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,106 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 1,800 shares during the last quarter. First Quadrant L P CA acquired a new stake in shares of Axalta Coating Systems during the 2nd quarter worth $124,000. Cerebellum GP LLC acquired a new stake in shares of Axalta Coating Systems during the 2nd quarter worth $176,000. Finally, Captrust Financial Advisors increased its holdings in shares of Axalta Coating Systems by 120.7% during the 2nd quarter. Captrust Financial Advisors now owns 6,742 shares of the specialty chemicals company’s stock worth $204,000 after buying an additional 3,687 shares during the last quarter.

About Axalta Coating Systems

Axalta Coating Systems Ltd. manufactures, markets, and distributes coatings systems. It operates through the following segments: Performance Coatings and Transportation Coatings. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base. The Transportation Coatings segment offers advanced coatings technologies to original equipment manufacturers of light and commercial vehicles.

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Earnings History and Estimates for Axalta Coating Systems (NYSE:AXTA)

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