Chart Industries (NYSE:GTLS) Releases Quarterly Earnings Results

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

Shares of GTLS stock traded up $10.00 during mid-day trading on Friday, reaching $155.00. The company’s stock had a trading volume of 1,112,498 shares, compared to its average volume of 520,929. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $6.52 billion, a PE ratio of 407.89, a price-to-earnings-growth ratio of 0.40 and a beta of 1.73. The company’s 50 day simple moving average is $150.44 and its 200-day simple moving average is $136.21. Chart Industries has a 12-month low of $106.66 and a 12-month high of $184.65.

Analyst Ratings Changes

GTLS has been the subject of a number of recent research reports. TD Cowen lifted their price objective on Chart Industries from $230.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Wells Fargo & Company upped their price objective on shares of Chart Industries from $155.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. 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 report on Tuesday, March 19th. Finally, Morgan Stanley assumed coverage on Chart Industries in a research report on Thursday, April 18th. They set an “equal weight” rating and a $200.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Chart Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.85.

About Chart Industries

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.