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

Chart Industries (NYSE:GTLS) issued its earnings results on Friday. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.39), Briefing.com reports. The firm had revenue of $950.70 million during the quarter, compared to analyst estimates of $970.91 million. Chart Industries had a net margin of 1.00% and a return on equity of 9.27%. The company’s revenue for the quarter was up 76.7% on a year-over-year basis. During the same quarter last year, the business posted $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 Price Performance

NYSE:GTLS traded up $10.00 during trading hours on Friday, hitting $155.00. The company’s stock had a trading volume of 1,112,498 shares, compared to its average volume of 520,929. The company has a market capitalization of $6.52 billion, a P/E ratio of 407.89, a PEG ratio of 0.40 and a beta of 1.73. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.88. Chart Industries has a twelve month low of $106.66 and a twelve month high of $184.65. The stock has a fifty day simple moving average of $150.44 and a 200-day simple moving average of $136.21.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group upgraded Chart Industries from a “neutral” rating to a “buy” rating and boosted their price target for the company from $152.00 to $170.00 in a research note on Tuesday, March 19th. Wells Fargo & Company raised their price target on shares of Chart Industries from $155.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. TD Cowen raised their target price on shares of Chart Industries from $230.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Morgan Stanley assumed coverage on Chart Industries in a research note on Thursday, April 18th. They issued an “equal weight” rating and a $200.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Chart Industries has an average rating of “Moderate Buy” and a consensus target price of $194.85.

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.