Zacks: Brokerages Anticipate Chart Industries, Inc. (NASDAQ:GTLS) Will Post Quarterly Sales of $232.40 Million
Equities research analysts expect Chart Industries, Inc. (NASDAQ:GTLS) to post $232.40 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Chart Industries’ earnings, with the highest sales estimate coming in at $233.60 million and the lowest estimate coming in at $231.20 million. Chart Industries posted sales of $203.93 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 14%. The business is expected to report its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Chart Industries will report full-year sales of $232.40 million for the current year, with estimates ranging from $897.00 million to $907.30 million. For the next fiscal year, analysts expect that the firm will post sales of $960.13 million per share, with estimates ranging from $942.00 million to $984.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Chart Industries.
Chart Industries (NASDAQ:GTLS) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. The firm had revenue of $238.21 million during the quarter, compared to the consensus estimate of $225.76 million. Chart Industries had a return on equity of 3.28% and a net margin of 1.35%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share.
GTLS has been the topic of a number of analyst reports. Johnson Rice raised Chart Industries from a “hold” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $42.00 in a research report on Thursday, June 29th. Zacks Investment Research raised Chart Industries from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, April 26th. Cowen and Company set a $38.00 price target on Chart Industries and gave the stock a “hold” rating in a research report on Friday. Finally, BidaskClub raised Chart Industries from a “sell” rating to a “hold” rating in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Chart Industries currently has an average rating of “Hold” and a consensus target price of $40.43.
Shares of Chart Industries (GTLS) opened at 34.31 on Monday. Chart Industries has a 52 week low of $27.01 and a 52 week high of $40.87. The stock has a 50 day moving average price of $34.71 and a 200 day moving average price of $35.70. The stock has a market capitalization of $1.06 billion, a P/E ratio of 90.53 and a beta of 1.28.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Chart Industries by 8.8% in the first quarter. Vanguard Group Inc. now owns 3,842,890 shares of the industrial products company’s stock valued at $134,271,000 after buying an additional 310,641 shares during the period. Dimensional Fund Advisors LP boosted its position in Chart Industries by 10.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,089,590 shares of the industrial products company’s stock valued at $73,010,000 after buying an additional 201,528 shares during the period. Gamco Investors INC. ET AL boosted its position in Chart Industries by 130.7% in the first quarter. Gamco Investors INC. ET AL now owns 189,200 shares of the industrial products company’s stock valued at $6,611,000 after buying an additional 107,200 shares during the period. Teton Advisors Inc. acquired a new position in Chart Industries during the first quarter valued at about $2,536,000. Finally, Algert Global LLC acquired a new position in Chart Industries during the second quarter valued at about $2,305,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Chart Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chart Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.