Chart Industries (NYSE:GTLS) Issues FY24 Earnings Guidance

Chart Industries (NYSE:GTLS) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of ~$9.00 for the period, compared to the consensus estimate of $10.14. The company issued revenue guidance of $4.20-4.30 billion, compared to the consensus revenue estimate of $4.40 billion. Chart Industries also updated its FY 2024 guidance to 9.000-9.000 EPS.

Chart Industries Trading Up 5.9 %

GTLS traded up $7.61 during trading on Monday, reaching $137.61. 1,624,123 shares of the company’s stock were exchanged, compared to its average volume of 628,709. The firm has a fifty day moving average price of $121.62 and a two-hundred day moving average price of $136.98. The stock has a market capitalization of $5.89 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 0.56 and a beta of 1.71. Chart Industries has a one year low of $101.60 and a one year high of $171.68. The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 1.28.

Chart Industries (NYSE:GTLS) last posted its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.38). The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.10 billion. Chart Industries had a net margin of 2.80% and a return on equity of 12.27%. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 earnings per share. As a group, equities research analysts forecast that Chart Industries will post 9.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on GTLS shares. Wells Fargo & Company reduced their target price on Chart Industries from $151.00 to $146.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group decreased their price objective on shares of Chart Industries from $168.00 to $144.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Evercore ISI upgraded shares of Chart Industries to a “strong-buy” rating in a report on Monday, August 5th. Barclays decreased their price target on Chart Industries from $146.00 to $145.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Craig Hallum boosted their price objective on Chart Industries from $199.00 to $207.00 and gave the company a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Chart Industries has an average rating of “Moderate Buy” and an average price target of $178.82.

Insider Activity at Chart Industries

In other news, CEO Jillian C. Evanko acquired 440 shares of Chart Industries stock in a transaction on Thursday, September 5th. The stock was purchased at an average price of $114.31 per share, with a total value of $50,296.40. Following the completion of the purchase, the chief executive officer now owns 125,448 shares of the company’s stock, valued at approximately $14,339,960.88. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Chart Industries news, CEO Jillian C. Evanko acquired 440 shares of the stock in a transaction on Thursday, September 5th. The shares were purchased at an average price of $114.31 per share, for a total transaction of $50,296.40. Following the completion of the acquisition, the chief executive officer now owns 125,448 shares in the company, valued at approximately $14,339,960.88. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Linda S. Harty acquired 1,000 shares of Chart Industries stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $113.50 per share, with a total value of $113,500.00. Following the completion of the acquisition, the director now directly owns 10,640 shares of the company’s stock, valued at approximately $1,207,640. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 7,152 shares of company stock valued at $482,278 in the last three months. Corporate insiders own 0.95% of the company’s stock.

About Chart Industries

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.