Chart Industries (NYSE:GTLS) Updates FY 2024 Earnings Guidance

Chart Industries (NYSE:GTLS) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 12.000-14.000 for the period, compared to the consensus earnings per share estimate of 10.560. The company issued revenue guidance of $4.7 billion-$5.0 billion, compared to the consensus revenue estimate of $4.7 billion. Chart Industries also updated its FY24 guidance to $12.00-14.00 EPS.

Chart Industries Stock Performance

Shares of GTLS traded up $10.00 during mid-day trading on Friday, reaching $155.00. The company’s stock had a trading volume of 1,111,857 shares, compared to its average volume of 614,686. Chart Industries has a 1-year low of $106.66 and a 1-year high of $184.65. The stock has a market cap of $6.52 billion, a P/E ratio of 407.89, a PEG ratio of 0.40 and a beta of 1.73. The business has a 50-day simple moving average of $149.88 and a two-hundred day simple moving average of $136.24. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 1.22.

Chart Industries (NYSE:GTLS) last announced its earnings results on Wednesday, February 28th. The industrial products company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.12. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.09 billion. Chart Industries had a return on equity of 9.27% and a net margin of 1.00%. The firm’s quarterly revenue was up 130.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 earnings per share. As a group, equities research analysts anticipate that Chart Industries will post 11.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Raymond James upgraded Chart Industries from an outperform rating to a strong-buy rating and set a $190.00 target price on the stock in a research note on Thursday, January 4th. Morgan Stanley assumed coverage on Chart Industries in a research note on Thursday, April 18th. They set an equal weight rating and a $200.00 target price on the stock. Wells Fargo & Company increased their target price on Chart Industries from $155.00 to $172.00 and gave the stock an overweight rating in a research note on Friday, March 1st. TD Cowen raised their price objective on Chart Industries from $230.00 to $260.00 and gave the stock an outperform rating in a research note on Thursday, February 29th. Finally, UBS Group upgraded 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 research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Chart Industries currently 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.