Chart Industries (NYSE:GTLS) Issues Quarterly Earnings Results

Chart Industries (NYSE:GTLS) announced its quarterly earnings results on Friday. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.39), Briefing.com reports. Chart Industries had a return on equity of 9.49% and a net margin of 1.59%. The business had revenue of $950.70 million during the quarter, compared to the consensus estimate of $970.91 million. During the same quarter last year, the company earned $1.41 earnings per share. The firm’s revenue 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 Stock Up 6.9 %

GTLS stock opened at $155.00 on Monday. Chart Industries has a twelve month low of $106.66 and a twelve month high of $184.65. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 155.00, a P/E/G ratio of 0.43 and a beta of 1.73. The company has a quick ratio of 0.95, a current ratio of 1.25 and a debt-to-equity ratio of 1.29. The business has a 50 day moving average price of $150.44 and a two-hundred day moving average price of $136.00.

Wall Street Analysts Forecast Growth

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