Axalta Coating Systems Ltd (AXTA) Releases Earnings Results, Misses Expectations By $-0.01 EPS

Axalta Coating Systems Ltd (AXTA) reported quarterly earnings results on Thursday, Apr-28-2016. The company reported $0.17 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.18. The company posted revenue of $955.60 million in the period, compared to analysts expectations of $966.34 million. The company’s revenue was down -3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on Axalta Coating Systems Ltd. Axalta Coating Systems Ltd was Upgraded by Jefferies to ” Buy” on Feb 16, 2016. Company shares were Reiterated by RBC Capital Mkts on Feb 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 32 from a previous price target of $31 .Shares were Reiterated by Deutsche Bank on Feb 11, 2016 to “Buy” and Lowered the Price Target to $ 30 from a previous price target of $33 .

Axalta Coating Systems Ltd closed down -0.22 points or -0.73% at $29.73 with 25,87,253 shares getting traded on Wednesday. Post opening the session at $29.95, the shares hit an intraday low of $29.37 and an intraday high of $30.18 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Apr 15, 2016, Andreas Kramvis (director) sold 32,100 shares at $30.00 per share price. According to the SEC, on Apr 6, 2016, Joseph F. Mcdougall (SVP&Chief Human Resources Off.) sold 81,837 shares at $28.74 per share price. On Feb 26, 2016, Orlando Antonio Bustos (director) sold 81,541 shares at $32.96 per share price, according to the Form-4 filing with the securities and exchange commission.

Axalta Coating Systems Ltd. is a manufacturer marketer and distributor of coatings systems primarily serving the transportation industry. The Company operates in two business segments: Performance Coatings and Transportation Coatings. Through its Performance Coatings segment the Company provides liquid and powder coatings solutions to a fragmented and local customer base. Through its Transportation Coatings segment the Company provides advanced coating technologies to original equipment manufacturer (OEMs) of light and commercial vehicles. Its products are offered in four key end-markets including the refinish automotive aftermarket industrial light vehicle or automotive original equipment manufacturers (OEM) market and commercial vehicle market. The Company’s products include liquid and powder coatings for motor vehicles OEMs the motor vehicle aftermarket and general industrial applications such as coatings for heavy equipment pipes appliances and electrical insulation.

Axalta Coating Systems Ltd

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