$226.80 Million in Sales Expected for Chart Industries, Inc. (NASDAQ:GTLS) This Quarter
Wall Street brokerages expect Chart Industries, Inc. (NASDAQ:GTLS) to report sales of $226.80 million for the current quarter, according to Zacks. Four analysts have made estimates for Chart Industries’ earnings, with estimates ranging from $220.00 million to $230.40 million. Chart Industries posted sales of $247.10 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 8.2%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, July 27th.
According to Zacks, analysts expect that Chart Industries will report full year sales of $226.80 million for the current year, with estimates ranging from $884.40 million to $939.00 million. For the next year, analysts forecast that the firm will report sales of $968.02 million per share, with estimates ranging from $942.00 million to $1.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Chart Industries.
Chart Industries (NASDAQ:GTLS) last posted its quarterly earnings results on Thursday, April 27th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The company had revenue of $204.10 million during the quarter, compared to the consensus estimate of $198.57 million. Chart Industries had a net margin of 3.45% and a return on equity of 5.56%. Chart Industries’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) EPS.
A number of brokerages have recently weighed in on GTLS. Zacks Investment Research cut shares of Chart Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Johnson Rice raised shares of Chart Industries from a “hold” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $42.00 in a research report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $39.14.
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Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of Chart Industries during the fourth quarter valued at approximately $1,167,000. Comerica Bank increased its stake in shares of Chart Industries by 5.3% in the fourth quarter. Comerica Bank now owns 33,915 shares of the industrial products company’s stock valued at $1,285,000 after buying an additional 1,716 shares during the last quarter. State Street Corp increased its stake in shares of Chart Industries by 9.4% in the fourth quarter. State Street Corp now owns 722,191 shares of the industrial products company’s stock valued at $26,014,000 after buying an additional 62,071 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Chart Industries by 71.0% in the fourth quarter. AQR Capital Management LLC now owns 12,469 shares of the industrial products company’s stock valued at $449,000 after buying an additional 5,176 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Chart Industries by 5.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,470 shares of the industrial products company’s stock valued at $593,000 after buying an additional 830 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.
Chart Industries (GTLS) opened at 35.24 on Friday. The company has a market cap of $1.08 billion, a PE ratio of 36.40 and a beta of 1.28. The firm has a 50 day moving average price of $34.80 and a 200 day moving average price of $36.12. Chart Industries has a 12-month low of $22.74 and a 12-month high of $40.87.
About Chart Industries
Chart Industries, Inc is a diversified global manufacturer of engineered equipment, packaged solutions, and value-add services used throughout the industrial gas, energy and biomedical industries. The Company operates through three business segments: Energy & Chemicals (E&C), Distribution & Storage (D&S) and BioMedical.
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