Linde (NASDAQ:LIN) Updates FY24 Earnings Guidance

Linde (NASDAQ:LIN) issued an update on its FY24 earnings guidance on Friday morning. The company provided EPS guidance of $15.40-15.60 for the period, compared to the consensus EPS estimate of $15.48. Linde also updated its FY 2024 guidance to 15.400-15.600 EPS.

Linde Trading Up 0.1 %

Shares of Linde stock opened at $454.00 on Friday. 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 52-week low of $361.02 and a 52-week high of $477.71. The company’s 50-day simple moving average is $439.34 and its 200-day simple moving average is $439.73. The company has a quick ratio of 0.76, a current ratio of 0.91 and a debt-to-equity ratio of 0.38.

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, topping the consensus estimate of $3.79 by $0.06. The company had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $8.30 billion. Linde had a return on equity of 17.49% and a net margin of 19.26%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.57 EPS. As a group, equities research analysts anticipate that Linde will post 15.49 earnings per share for the current year.

Linde Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a $1.39 dividend. This represents a $5.56 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Wednesday, September 4th. Linde’s dividend payout ratio (DPR) is currently 43.13%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group cut their price target on shares of Linde from $490.00 to $475.00 and set a neutral rating for the company in a report on Tuesday, July 9th. Citigroup lifted their price target on shares of Linde from $470.00 to $480.00 and gave the company a neutral rating in a research report on Friday, July 12th. Mizuho upped their price target on Linde from $510.00 to $512.00 and gave the stock a buy rating in a report on Friday, May 3rd. Wells Fargo & Company lifted their price objective on Linde from $480.00 to $540.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Finally, BMO Capital Markets lowered their target price on Linde from $510.00 to $475.00 and set an outperform rating on the stock in a report on Monday, May 6th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target 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.