Axalta Coating Systems (NYSE:AXTA) Releases FY 2024 Earnings Guidance

Axalta Coating Systems (NYSE:AXTA) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.900-2.000 for the period. The company issued revenue guidance of -. Axalta Coating Systems also updated its FY24 guidance to $1.90-$2.00 EPS.

Axalta Coating Systems Stock Performance

Shares of AXTA stock traded up $0.37 during mid-day trading on Friday, reaching $35.20. The stock had a trading volume of 3,991,263 shares, compared to its average volume of 2,581,191. Axalta Coating Systems has a one year low of $25.03 and a one year high of $35.31. The firm has a market cap of $7.77 billion, a PE ratio of 31.71, a P/E/G ratio of 1.08 and a beta of 1.51. The firm’s 50 day simple moving average is $32.78 and its 200 day simple moving average is $31.82. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 1.92.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.40 by $0.08. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. Axalta Coating Systems’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.35 earnings per share. On average, analysts forecast that Axalta Coating Systems will post 1.98 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on AXTA shares. JPMorgan Chase & Co. boosted their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a research note on Thursday. Robert W. Baird upped their target price on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the stock an outperform rating in a report on Thursday. Barclays boosted their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a research report on Thursday. Wolfe Research initiated coverage on shares of Axalta Coating Systems in a research note on Friday, March 1st. They set a peer perform rating on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the company an equal weight rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $38.00.

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.