Linde (NASDAQ:LIN) Updates FY24 Earnings Guidance

Linde (NASDAQ:LIN) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $15.30-15.60 for the period, compared to the consensus estimate of $15.41.

Linde Trading Up 0.9 %

Shares of NASDAQ LIN traded up $3.98 during trading hours on Friday, hitting $423.60. The company’s stock had a trading volume of 2,657,419 shares, compared to its average volume of 1,803,659. Linde has a 12 month low of $350.60 and a 12 month high of $477.71. The stock has a market cap of $204.00 billion, a price-to-earnings ratio of 32.86, a P/E/G ratio of 2.78 and a beta of 0.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.67 and a current ratio of 0.91. The business has a 50-day simple moving average of $455.47 and a 200-day simple moving average of $422.69.

Linde (NASDAQ:LIN) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $3.75 earnings per share for the quarter, topping analysts’ consensus estimates of $3.68 by $0.07. The firm had revenue of $8.10 billion for the quarter, compared to analyst estimates of $8.38 billion. Linde had a return on equity of 17.49% and a net margin of 19.26%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $3.42 EPS. On average, analysts anticipate that Linde will post 15.5 earnings per share for the current fiscal year.

Linde Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Tuesday, June 4th. Linde’s payout ratio is currently 43.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LIN. UBS Group lowered shares of Linde from a buy rating to a neutral rating and lifted their target price for the company from $482.00 to $510.00 in a research note on Wednesday, March 27th. Citigroup cut Linde from a buy rating to a neutral rating and lifted their price objective for the company from $475.00 to $500.00 in a research report on Wednesday, April 10th. Wolfe Research started coverage on Linde in a report on Friday, March 1st. They set a peer perform rating on the stock. Wells Fargo & Company raised their target price on Linde from $480.00 to $540.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Finally, TD Cowen upped their price target on Linde from $395.00 to $455.00 and gave the stock a market perform rating in a research note on Friday, February 16th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $460.15.

Insider Transactions at Linde

In other Linde news, VP Sean Durbin sold 5,277 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $467.39, for a total transaction of $2,466,417.03. Following the completion of the sale, the vice president now directly owns 8,151 shares in the company, valued at approximately $3,809,695.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Sanjiv Lamba sold 8,306 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $462.04, for a total value of $3,837,704.24. Following the completion of the transaction, the chief executive officer now owns 56,398 shares in the company, valued at $26,058,131.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sean Durbin sold 5,277 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $467.39, for a total value of $2,466,417.03. Following the sale, the vice president now directly owns 8,151 shares in the company, valued at $3,809,695.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,248 shares of company stock valued at $35,811,988. Insiders own 0.70% of the company’s stock.

Linde Company Profile

Linde plc operates as an industrial gas company in the Americas, Europe, the Middle East, Africa, Asia, and South Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.