Chart Industries (NYSE:GTLS) Releases Earnings Results, Misses Expectations By $0.39 EPS

Chart Industries (NYSE:GTLS) posted its earnings results on Friday. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.39), Briefing.com reports. Chart Industries had a return on equity of 9.49% and a net margin of 1.59%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business posted $1.19 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. 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 Price Performance

NYSE:GTLS traded down $27.84 on Friday, hitting $126.01. The company had a trading volume of 2,100,275 shares, compared to its average volume of 489,984. Chart Industries has a 52 week low of $109.48 and a 52 week high of $184.65. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 126.01, a PEG ratio of 0.44 and a beta of 1.74. The company has a current ratio of 1.25, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm has a 50 day moving average of $149.82 and a two-hundred day moving average of $145.39.

Analyst Ratings Changes

Several brokerages have weighed in on GTLS. Bank of America lifted 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. Piper Sandler lifted their price objective on shares of Chart Industries from $151.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Barclays began coverage on shares of Chart Industries in a research note on Wednesday, May 8th. They issued an “equal weight” rating and a $193.00 price objective for the company. 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 price objective for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of Chart Industries from $150.00 to $168.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.