Chart Industries (NYSE:GTLS) Releases FY 2024 Earnings Guidance

Chart Industries (NYSE:GTLS) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 10.750-11.750 for the period, compared to the consensus estimate of 11.760. The company issued revenue guidance of $4.5 billion-$4.6 billion, compared to the consensus revenue estimate of $4.7 billion. Chart Industries also updated its FY24 guidance to $10.75-11.75 EPS.

Chart Industries Stock Down 18.0 %

Shares of NYSE GTLS traded down $27.72 during trading hours on Friday, hitting $126.13. The stock had a trading volume of 2,100,111 shares, compared to its average volume of 563,666. The company has a market capitalization of $5.40 billion, a P/E ratio of 126.13, a P/E/G ratio of 0.46 and a beta of 1.74. The firm’s 50-day moving average price is $149.82 and its two-hundred day moving average price is $145.39. Chart Industries has a 52 week low of $109.48 and a 52 week 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.

Chart Industries (NYSE:GTLS) last announced its quarterly earnings results on Friday, May 3rd. The industrial products company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.39). Chart Industries had a net margin of 1.59% and a return on equity of 9.49%. The firm had revenue of $950.70 million during the quarter, compared to the consensus estimate of $970.91 million. During the same period in the previous year, the firm posted $1.41 EPS. The company’s quarterly revenue was up 76.7% compared to the same quarter last year. Analysts anticipate that Chart Industries will post 11.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GTLS has been the subject of several analyst reports. Morgan Stanley initiated coverage on Chart Industries in a report on Thursday, April 18th. They issued an equal weight rating and a $200.00 target price for the company. Stifel Nicolaus reduced their target price on Chart Industries from $224.00 to $220.00 and set a buy rating for the company in a report on Monday, May 6th. TD Cowen boosted their target price on Chart Industries from $260.00 to $265.00 and gave the stock a buy rating in a report on Monday, May 6th. The Goldman Sachs Group boosted their target price on Chart Industries from $150.00 to $168.00 and gave the stock a neutral rating in a report on Tuesday, May 28th. Finally, Piper Sandler boosted their target price on Chart Industries from $151.00 to $160.00 and gave the stock a neutral rating in a 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. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus 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.