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

Axalta Coating Systems Ltd. (NYSE:AXTA) – Equities research analysts at Seaport Res Ptn reduced their FY2024 earnings per share (EPS) estimates for Axalta Coating Systems in a report issued on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will post earnings per share of $2.15 for the year, down from their previous 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 posted its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business posted $0.45 earnings per share. The company’s revenue was up .8% on a year-over-year basis.

Several other analysts have also recently commented on the company. Mizuho lowered their price target on Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. KeyCorp reaffirmed a “sector weight” rating on shares of Axalta Coating Systems in a report on Tuesday, December 17th. Royal Bank of Canada boosted their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets raised their price objective on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Axalta Coating Systems Stock Performance

Shares of AXTA opened at $36.73 on Friday. The stock has a market cap of $8.01 billion, a P/E ratio of 24.81, a P/E/G ratio of 0.74 and a beta of 1.46. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00. Axalta Coating Systems has a one year low of $30.40 and a one year high of $41.65. The stock has a 50-day moving average of $36.97 and a two-hundred day moving average of $36.31.

Hedge Funds Weigh In On Axalta Coating Systems

A number of large investors have recently made changes to their positions in AXTA. First Horizon Advisors Inc. lifted its holdings in shares of Axalta Coating Systems by 35.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 266 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Axalta Coating Systems by 1.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 23,951 shares of the specialty chemicals company’s stock worth $820,000 after purchasing an additional 323 shares during the last quarter. Optas LLC raised its holdings in shares of Axalta Coating Systems by 7.3% during the 4th quarter. Optas LLC now owns 6,024 shares of the specialty chemicals company’s stock valued at $206,000 after purchasing an additional 412 shares in the last quarter. Eagle Bay Advisors LLC raised its holdings in Axalta Coating Systems by 116.3% during the fourth quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 443 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Axalta Coating Systems by 14.1% in the 3rd quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company’s stock worth $130,000 after purchasing an additional 444 shares during the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Company Profile

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.