Linde (NASDAQ:LIN) Releases Q3 Earnings Guidance

Linde (NASDAQ:LIN) updated its third quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $3.82-3.92 for the period, compared to the consensus estimate of $3.95. Linde also updated its FY 2024 guidance to 15.400-15.600 EPS.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LIN. Mizuho boosted their target price on shares of Linde from $510.00 to $512.00 and gave the company a buy rating in a research note on Friday, May 3rd. HSBC decreased their target price on shares of Linde from $458.00 to $452.00 and set a buy rating for the company in a research note on Monday, May 6th. Citigroup boosted their target price on shares of Linde from $470.00 to $480.00 and gave the company a neutral rating in a research note on Friday, July 12th. BMO Capital Markets reduced their price objective on shares of Linde from $510.00 to $475.00 and set an outperform rating for the company in a research report on Monday, May 6th. Finally, UBS Group reduced their price objective on shares of Linde from $490.00 to $475.00 and set a neutral rating for the company in a research report on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $477.25.

Linde Price Performance

Shares of NASDAQ LIN traded up $0.66 during mid-day trading on Friday, reaching $454.00. The company’s stock had a trading volume of 2,714,589 shares, compared to its average volume of 1,497,816. The stock has a 50-day moving average of $439.34 and a two-hundred day moving average of $439.50. The stock has a market capitalization of $218.23 billion, a P/E ratio of 35.22, a P/E/G ratio of 2.86 and a beta of 0.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 0.91. Linde has a 1-year low of $361.02 and a 1-year high of $477.71.

Linde (NASDAQ:LIN) last issued its earnings results on Friday, August 2nd. The basic materials company reported $3.85 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $0.06. The business had revenue of $8.30 billion during the quarter, compared to analysts’ expectations of $8.30 billion. Linde had a net margin of 19.26% and a return on equity of 17.49%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.57 earnings per share. On average, equities research analysts anticipate that Linde will post 15.49 EPS for the current fiscal year.

Linde Dividend Announcement

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

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.