Linde (NASDAQ:LIN) Updates FY 2024 Earnings Guidance

Linde (NASDAQ:LIN) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 15.400-15.500 for the period, compared to the consensus estimate of 15.510. The company issued revenue guidance of -. Linde also updated its Q4 guidance to $3.86-3.96 EPS.

Analysts Set New Price Targets

A number of research firms have commented on LIN. BMO Capital Markets reaffirmed an “outperform” rating and issued a $477.00 target price on shares of Linde in a research report on Friday, August 30th. Citigroup raised their target price on Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, July 12th. UBS Group lowered their price objective on shares of Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Barclays upped their target price on shares of Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Linde presently has an average rating of “Moderate Buy” and an average target price of $484.18.

Linde Stock Down 2.8 %

Shares of LIN traded down $13.22 during mid-day trading on Thursday, reaching $460.18. The company’s stock had a trading volume of 993,234 shares, compared to its average volume of 1,819,619. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.80. Linde has a 12-month low of $376.70 and a 12-month high of $487.49. The stock has a market cap of $219.74 billion, a PE ratio of 36.03, a price-to-earnings-growth ratio of 3.00 and a beta of 0.94. The company’s 50 day moving average is $473.15 and its 200 day moving average is $451.70.

Linde (NASDAQ:LIN) last released its quarterly earnings data on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.06. Linde had a net margin of 19.49% and a return on equity of 17.92%. The company had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $8.30 billion. During the same quarter last year, the company earned $3.57 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts anticipate that Linde will post 15.52 EPS for the current fiscal year.

Linde Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $1.39 per share. This represents a $5.56 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Tuesday, December 3rd. Linde’s payout ratio is 42.31%.

Insider Activity

In other news, VP John Panikar sold 10,025 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the transaction, the vice president now directly owns 17,584 shares in the company, valued at approximately $8,136,996. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

About Linde

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.