Chart Industries (NYSE:GTLS) Updates FY24 Earnings Guidance

Chart Industries (NYSE:GTLS) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of ~$9.00 for the period, compared to the consensus earnings per share estimate of $10.14. The company issued revenue guidance of $4.20-4.30 billion, compared to the consensus revenue estimate of $4.40 billion. Chart Industries also updated its FY 2024 guidance to 9.000-9.000 EPS.

Wall Street Analyst Weigh In

GTLS has been the topic of several research analyst reports. Stifel Nicolaus lifted their target price on shares of Chart Industries from $198.00 to $200.00 and gave the company a “buy” rating in a research report on Monday. Barclays decreased their price target on shares of Chart Industries from $146.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday. The Goldman Sachs Group decreased their price target on shares of Chart Industries from $168.00 to $144.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Wells Fargo & Company decreased their price target on shares of Chart Industries from $151.00 to $146.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Bank of America decreased their price target on shares of Chart Industries from $185.00 to $165.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $178.82.

Chart Industries Stock Performance

GTLS stock traded up $8.08 during trading on Monday, hitting $138.08. The company had a trading volume of 946,568 shares, compared to its average volume of 625,528. The firm has a market cap of $5.91 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 0.56 and a beta of 1.71. Chart Industries has a 1-year low of $101.60 and a 1-year high of $171.68. The firm has a 50-day moving average price of $121.62 and a 200-day moving average price of $136.98. The company has a quick ratio of 0.98, a current ratio of 1.27 and a debt-to-equity ratio of 1.28.

Chart Industries (NYSE:GTLS) last issued its earnings results on Friday, November 1st. The industrial products company reported $2.18 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.38). Chart Industries had a return on equity of 12.27% and a net margin of 2.80%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm posted $1.28 earnings per share. Chart Industries’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, analysts expect that Chart Industries will post 9.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jillian C. Evanko purchased 440 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were bought at an average price of $114.31 per share, with a total value of $50,296.40. Following the completion of the purchase, the chief executive officer now directly owns 125,448 shares in the company, valued at approximately $14,339,960.88. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Linda S. Harty purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average price of $48.05 per share, for a total transaction of $240,250.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $240,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jillian C. Evanko acquired 440 shares of Chart Industries stock in a transaction dated Thursday, September 5th. The shares were acquired at an average price of $114.31 per share, with a total value of $50,296.40. Following the completion of the transaction, the chief executive officer now owns 125,448 shares of the company’s stock, valued at approximately $14,339,960.88. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 7,152 shares of company stock valued at $482,278. Insiders own 0.95% of the company’s stock.

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.