Chart Industries (NYSE:GTLS) Releases Quarterly Earnings Results

Chart Industries (NYSE:GTLS) issued its quarterly earnings results on Friday. The industrial products company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.39), Briefing.com reports. The firm 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 business’s quarterly revenue was up 76.7% compared to the same quarter last year. During the same quarter last year, the firm 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 Stock Up 6.9 %

Shares of NYSE:GTLS traded up $10.00 during midday trading on Friday, hitting $155.00. 1,112,498 shares of the company’s stock traded hands, compared to its average volume of 520,929. The firm’s fifty day moving average price is $150.44 and its two-hundred day moving average price is $136.00. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.88 and a current ratio of 1.19. 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 PE ratio of 155.00, a P/E/G ratio of 0.43 and a beta of 1.73.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GTLS shares. TD Cowen boosted their price target on Chart Industries from $230.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. UBS Group raised Chart Industries from a “neutral” rating to a “buy” rating and raised their price target for the stock from $152.00 to $170.00 in a research note on Tuesday, March 19th. 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. Finally, Morgan Stanley started coverage on shares of Chart Industries in a research report on Thursday, April 18th. They issued an “equal weight” rating and a $200.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus 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.