Linde (NASDAQ:LIN) Updates FY 2024 Earnings Guidance

Linde (NASDAQ:LIN) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 15.400-15.600 for the period, compared to the consensus earnings per share estimate of 15.490. The company issued revenue guidance of -. Linde also updated its FY24 guidance to $15.40-15.60 EPS.

Linde Trading Up 0.1 %

Shares of NASDAQ LIN traded up $0.66 during midday trading on Friday, reaching $454.00. The stock had a trading volume of 2,714,589 shares, compared to its average volume of 1,497,816. The firm has a market cap of $218.23 billion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. Linde has a twelve month low of $361.02 and a twelve month high of $477.71. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 0.91. The company’s 50 day moving average price is $439.34 and its 200 day moving average price is $439.50.

Linde (NASDAQ:LIN) last released its earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.06. Linde had a net margin of 19.26% and a return on equity of 17.49%. The company had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter in the previous year, the company earned $3.57 EPS. Linde’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts expect that Linde will post 15.49 EPS for the current year.

Linde Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a dividend of $1.39 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.22%. Linde’s payout ratio is presently 43.13%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of Linde from $510.00 to $475.00 and set an outperform rating on the stock in a research report on Monday, May 6th. UBS Group lowered their price objective on shares of Linde from $490.00 to $475.00 and set a neutral rating on the stock in a report on Tuesday, July 9th. HSBC lowered their price objective on shares of Linde from $458.00 to $452.00 and set a buy rating on the stock in a report on Monday, May 6th. Wells Fargo & Company upped their price objective on shares of Linde from $480.00 to $540.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Finally, Citigroup upped their price objective on shares of Linde from $470.00 to $480.00 and gave the stock a neutral rating in a report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $477.25.

Linde Company Profile

Linde plc operates as an industrial gas company in the Americas, Europe, the Middle East, Africa, Asia, and South Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.