Chart Industries (NYSE:GTLS) Announces Quarterly Earnings Results, Misses Estimates By $0.39 EPS

Chart Industries (NYSE:GTLS) issued its quarterly earnings data on Friday. The industrial products company reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.39), Briefing.com reports. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.11 billion. Chart Industries had a return on equity of 9.49% and a net margin of 1.59%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $1.19 EPS. Chart Industries updated its FY24 guidance to $10.75-11.75 EPS and its FY 2024 guidance to 10.750-11.750 EPS.

Chart Industries Stock Performance

NYSE GTLS traded down $27.84 on Friday, hitting $126.01. 2,100,275 shares of the company’s stock were exchanged, compared to its average volume of 489,984. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.25 and a quick ratio of 0.95. The firm’s 50-day moving average price is $149.82 and its two-hundred day moving average price is $145.39. Chart Industries has a fifty-two week low of $109.48 and a fifty-two week high of $184.65. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 126.01, a P/E/G ratio of 0.44 and a beta of 1.74.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GTLS shares. Piper Sandler upped their price objective on Chart Industries from $151.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Barclays initiated coverage on shares of Chart Industries in a report on Wednesday, May 8th. They issued an “equal weight” rating and a $193.00 price target on the stock. Bank of America boosted their price objective on shares of Chart Industries from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Morgan Stanley began coverage on shares of Chart Industries in a research note on Thursday, April 18th. They issued an “equal weight” rating and a $200.00 target price for the company. Finally, Stifel Nicolaus reduced their price target on Chart Industries from $224.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $195.83.

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.