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

Chart Industries (NYSE:GTLS) posted its quarterly earnings results on Friday. The industrial products company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.39), Briefing.com reports. Chart Industries had a return on equity of 9.27% and a net margin of 1.00%. The business had revenue of $950.70 million during the quarter, compared to analysts’ expectations of $970.91 million. During the same period in the prior year, the firm posted $1.41 earnings per share. The firm’s revenue for the quarter was up 76.7% on a year-over-year basis. 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 %

NYSE:GTLS traded up $10.00 during midday trading on Friday, hitting $155.00. 1,112,498 shares of the company traded hands, compared to its average volume of 520,929. The firm’s fifty day moving average is $150.44 and its 200-day moving average is $136.21. Chart Industries has a 12-month low of $106.66 and a 12-month high of $184.65. The firm has a market capitalization of $6.52 billion, a P/E ratio of 407.89, a P/E/G ratio of 0.40 and a beta of 1.73. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 1.22.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GTLS. Wells Fargo & Company boosted their price target on Chart Industries from $155.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. TD Cowen upped their price objective on Chart Industries from $230.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. UBS Group raised Chart Industries from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $152.00 to $170.00 in a report on Tuesday, March 19th. Finally, Morgan Stanley began coverage on Chart Industries in a report on Thursday, April 18th. They set an “equal weight” rating and a $200.00 price objective on the stock. One equities research 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 stock. According to data from MarketBeat, 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.