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

Chart Industries (NYSE:GTLS) issued its quarterly earnings results on Friday. The industrial products company reported $2.18 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $1.19 earnings per share. Chart Industries’s revenue for the quarter 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

Chart Industries stock traded down $27.84 during midday trading on Friday, reaching $126.01. 2,100,275 shares of the company were exchanged, compared to its average volume of 489,984. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 126.01, a P/E/G ratio of 0.44 and a beta of 1.74. The firm’s 50-day simple moving average is $149.82 and its 200-day simple moving average is $145.39. Chart Industries has a 1 year low of $109.48 and a 1 year high of $184.65. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.25.

Analysts Set New Price Targets

GTLS has been the subject of several recent research reports. Bank of America increased their price target on Chart Industries from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 15th. The Goldman Sachs Group increased their price objective on Chart Industries from $150.00 to $168.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Piper Sandler increased their price objective on Chart Industries from $151.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Barclays assumed coverage on Chart Industries in a research report on Wednesday, May 8th. They issued an “equal weight” rating and a $193.00 price objective for the company. Finally, TD Cowen increased their price objective on Chart Industries from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.