Axalta Coating Systems Ltd. (NYSE:AXTA – Get Rating) – Seaport Res Ptn reduced their Q3 2022 earnings per share (EPS) estimates for Axalta Coating Systems in a research note issued on Wednesday, September 14th. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will post earnings of $0.43 per share for the quarter, down from their prior estimate of $0.44. The consensus estimate for Axalta Coating Systems' current full-year earnings is $1.63 per share. Seaport Res Ptn also issued estimates for Axalta Coating Systems' Q4 2022 earnings at $0.47 EPS, FY2022 earnings at $1.62 EPS and FY2023 earnings at $2.12 EPS.

Axalta Coating Systems (NYSE:AXTA – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The specialty chemicals company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. Axalta Coating Systems had a return on equity of 21.80% and a net margin of 4.49%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the company posted $0.48 earnings per share.

Axalta Coating Systems Stock Performance

Shares of Axalta Coating Systems stock opened at $24.13 on Friday. The business has a 50-day simple moving average of $25.16 and a 200-day simple moving average of $25.07. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.33 and a current ratio of 1.93. The company has a market cap of $5.32 billion, a PE ratio of 27.41, a P/E/G ratio of 1.36 and a beta of 1.32. Axalta Coating Systems has a one year low of $21.44 and a one year high of $34.12.

Hedge Funds Weigh In On Axalta Coating Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FIFTHDELTA Ltd raised its position in Axalta Coating Systems by 583.7% during the 1st quarter. FIFTHDELTA Ltd now owns 6,435,668 shares of the specialty chemicals company's stock worth $158,189,000 after buying an additional 5,494,317 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in shares of Axalta Coating Systems in the 1st quarter worth $78,617,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Axalta Coating Systems by 9,486.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,215,898 shares of the specialty chemicals company's stock worth $48,993,000 after acquiring an additional 2,192,782 shares during the period. Millennium Management LLC lifted its stake in shares of Axalta Coating Systems by 22,098.7% in the 4th quarter. Millennium Management LLC now owns 1,824,068 shares of the specialty chemicals company's stock worth $60,413,000 after acquiring an additional 1,815,851 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Axalta Coating Systems by 10.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 16,587,963 shares of the specialty chemicals company's stock worth $407,731,000 after acquiring an additional 1,589,343 shares during the period.

Axalta Coating Systems Company Profile

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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. It operates through two segments, Performance Coatings and Transportation Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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