KeyCorp Cuts Earnings Estimates for Axalta Coating Systems

Axalta Coating Systems Ltd. (NYSE:AXTA) – Analysts at KeyCorp dropped their Q4 2024 earnings per share estimates for shares of Axalta Coating Systems in a research note issued to investors on Monday, December 16th. KeyCorp analyst A. Yefremov now expects that the specialty chemicals company will post earnings per share of $0.47 for the quarter, down from their prior forecast of $0.50. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Axalta Coating Systems’ current full-year earnings is $2.16 per share. KeyCorp also issued estimates for Axalta Coating Systems’ Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.61 EPS, Q3 2025 earnings at $0.64 EPS and FY2026 earnings at $2.75 EPS.

AXTA has been the subject of a number of other reports. Citigroup lowered Axalta Coating Systems from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $45.00 to $41.00 in a research report on Wednesday. Royal Bank of Canada raised their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Evercore ISI initiated coverage on shares of Axalta Coating Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price objective on the stock. Barclays increased their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Axalta Coating Systems Stock Performance

Shares of AXTA stock opened at $34.40 on Thursday. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 0.83 and a beta of 1.44. Axalta Coating Systems has a 1-year low of $30.40 and a 1-year high of $41.65. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. The stock’s fifty day simple moving average is $38.37 and its 200-day simple moving average is $36.30.

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

Institutional Trading of Axalta Coating Systems

Institutional investors and hedge funds have recently made changes to their positions in the stock. Plato Investment Management Ltd bought a new position in shares of Axalta Coating Systems in the 2nd quarter valued at approximately $30,000. First Horizon Advisors Inc. raised its position in shares of Axalta Coating Systems by 35.2% in the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 266 shares during the period. True Wealth Design LLC acquired a new stake in shares of Axalta Coating Systems in the third quarter worth $37,000. Millburn Ridgefield Corp bought a new stake in shares of Axalta Coating Systems during the 3rd quarter worth $41,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Axalta Coating Systems in the third quarter valued at about $54,000. Institutional investors and hedge funds own 98.28% of the company’s stock.

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.