Axiall Corp (AXLL) was Downgraded by JP Morgan to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on Jun 13, 2016.
Many Wall Street Analysts have commented on Axiall Corp. Axiall Corp was Downgraded by Sun Trust Rbsn Humphrey to ” Neutral” on Apr 4, 2016.
On the company’s financial health, Axiall Corp reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.46 according to the earnings call on May 5, 2016. Analyst had a consensus of $-0.29. The company had revenue of $699.20 million for the quarter, compared to analysts expectations of $753.01 million. The company’s revenue was down -10.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.05 EPS.
Axiall Corp opened for trading at $32.27 and hit $32.62 on the upside on Friday, eventually ending the session at $32.56, with a gain of 26.15% or 6.75 points. The heightened volatility saw the trading volume jump to 3,81,34,692 shares. Company has a market cap of $2,298 M.
Investors should note that on May 17, 2016, Axiall Corp announced a cash dividend of $0.1600. The company’s management has announced Jun 22, 2016 as the ex-dividend date and fixed the record date on Jun 24, 2016. The payable date has been fixed on Jul 8, 2016.
In a different news, on Mar 6, 2015, George Biltz (Chief Strategy Officer) sold 7,388 shares at $46.47 per share price.
Axiall Corporation is a manufacturer and international marketer of chemicals and building products. The Company operates through three segments: chlorovinyls building products and aromatics. The Company’s chlorovinyls segment produces a chain of products including chlor-alkali and derivative products such as chlorine caustic soda vinyl chloride monomer (VCM) vinyl resins ethylene dichloride (or 1 2 dichloroethane) (EDC) chlorinated solvents calcium hypochlorite hydrochloric acid (HCL) and phosgene derivatives and compound products such as vinyl compounds and compound additives and plasticizers. The Company’s building products segment consists of two primary product groups: window and door profiles and trim moldings and deck products and outdoor building products which includes siding and exterior accessories pipe and pipe fittings. The Company’s aromatics segment manufactures cumene products and phenol and acetone products (co-products made from cumene).