Chart Industries (NYSE:GTLS) Posts Quarterly Earnings Results, Misses Estimates By $0.39 EPS

Chart Industries (NYSE:GTLS) posted its quarterly earnings data on Friday. The industrial products company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.39), Briefing.com reports. Chart Industries had a net margin of 1.00% and a return on equity of 9.27%. The firm had revenue of $950.70 million during the quarter, compared to analyst estimates of $970.91 million. During the same period in the prior year, the company posted $1.41 earnings per share. The firm’s revenue for the quarter was up 76.7% compared to the same quarter last year. Chart Industries updated its FY24 guidance to $12.00-14.00 EPS and its FY 2024 guidance to 12.000-14.000 EPS.

Chart Industries Trading Up 6.9 %

Shares of NYSE GTLS traded up $10.00 during mid-day trading on Friday, reaching $155.00. 1,112,498 shares of the company’s stock were exchanged, compared to its average volume of 520,929. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 407.89, a PEG ratio of 0.40 and a beta of 1.73. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.88 and a current ratio of 1.19. Chart Industries has a 52-week low of $106.66 and a 52-week high of $184.65. The company’s 50-day moving average is $150.44 and its 200-day moving average is $136.21.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group raised Chart Industries from a “neutral” rating to a “buy” rating and increased their price objective for the company from $152.00 to $170.00 in a research note on Tuesday, March 19th. TD Cowen increased their price objective on Chart Industries from $230.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Morgan Stanley assumed coverage on Chart Industries in a research note on Thursday, April 18th. They issued an “equal weight” rating and a $200.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on Chart Industries from $155.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Chart Industries has an average rating of “Moderate Buy” and a consensus price target of $194.85.

Chart Industries Company Profile

Chart Industries, Inc engages in the designing, engineering, and manufacturing of process technologies and equipment for the gas and liquid molecules in the United States and internationally. The company operates in four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing.