Axalta Coating Systems Ltd to Post FY2018 Earnings of $1.25 Per Share, KeyCorp Forecasts (AXTA)

Axalta Coating Systems Ltd (NYSE:AXTA) – Investment analysts at KeyCorp cut their FY2018 earnings estimates for Axalta Coating Systems in a research report issued on Thursday, October 25th. KeyCorp analyst M. Sison now expects that the specialty chemicals company will post earnings per share of $1.25 for the year, down from their previous forecast of $1.30. KeyCorp currently has a “Overweight” rating and a $31.00 target price on the stock. KeyCorp also issued estimates for Axalta Coating Systems’ Q4 2018 earnings at $0.31 EPS and FY2019 earnings at $1.40 EPS.

Several other research analysts also recently commented on AXTA. Nomura dropped their price objective on shares of Axalta Coating Systems from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Friday. BMO Capital Markets dropped their price objective on shares of Axalta Coating Systems from $34.00 to $28.00 and set a “hold” rating for the company in a report on Friday. Barclays dropped their price objective on shares of Axalta Coating Systems from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Friday. Zacks Investment Research downgraded shares of Axalta Coating Systems from a “hold” rating to a “strong sell” rating in a report on Thursday, October 11th. Finally, JPMorgan Chase & Co. raised shares of Axalta Coating Systems from a “neutral” rating to an “overweight” rating and set a $33.00 price objective for the company in a report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $31.73.



AXTA opened at $24.25 on Monday. Axalta Coating Systems has a 52 week low of $23.65 and a 52 week high of $38.20. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 1.32 and a beta of 1.26. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 2.73.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Thursday, October 25th. The specialty chemicals company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. Axalta Coating Systems had a net margin of 1.49% and a return on equity of 22.14%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion.

In related news, EVP Steven R. Markevich sold 16,197 shares of the stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $29.17, for a total value of $472,466.49. Following the completion of the transaction, the executive vice president now owns 161,697 shares of the company’s stock, valued at approximately $4,716,701.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert M. Mclaughlin sold 4,920 shares of the stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $30.33, for a total transaction of $149,223.60. Following the completion of the transaction, the director now directly owns 39,442 shares of the company’s stock, valued at approximately $1,196,275.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 345,391 shares of company stock valued at $10,268,682. 2.30% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. lifted its holdings in shares of Axalta Coating Systems by 402.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 101,685 shares of the specialty chemicals company’s stock valued at $2,965,000 after acquiring an additional 81,450 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Axalta Coating Systems by 30.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,277 shares of the specialty chemicals company’s stock worth $2,283,000 after purchasing an additional 18,321 shares during the period. St. James Investment Company LLC raised its position in Axalta Coating Systems by 0.5% in the 3rd quarter. St. James Investment Company LLC now owns 539,751 shares of the specialty chemicals company’s stock worth $15,739,000 after purchasing an additional 2,655 shares during the period. Reinhart Partners Inc. raised its position in Axalta Coating Systems by 50.9% in the 3rd quarter. Reinhart Partners Inc. now owns 790,404 shares of the specialty chemicals company’s stock worth $23,048,000 after purchasing an additional 266,444 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Axalta Coating Systems by 40.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,860,207 shares of the specialty chemicals company’s stock worth $141,724,000 after purchasing an additional 1,390,710 shares during the period.

Axalta Coating Systems Company Profile

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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