Wall Street brokerages forecast that Chart Industries, Inc. (NASDAQ:GTLS) will report $385.07 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Chart Industries’ earnings. The highest sales estimate is $404.00 million and the lowest is $361.10 million. Chart Industries reported sales of $272.20 million in the same quarter last year, which indicates a positive year over year growth rate of 41.5%. The business is scheduled to report its next quarterly earnings report on Thursday, October 17th.
On average, analysts expect that Chart Industries will report full-year sales of $1.41 billion for the current year, with estimates ranging from $1.36 billion to $1.43 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.76 billion, with estimates ranging from $1.57 billion to $1.95 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Chart Industries.
Chart Industries (NASDAQ:GTLS) last issued its earnings results on Thursday, July 18th. The industrial products company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. Chart Industries had a net margin of 7.34% and a return on equity of 8.67%. The firm had revenue of $309.60 million during the quarter, compared to analyst estimates of $322.35 million. During the same quarter last year, the business earned $0.48 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis.
GTLS has been the topic of several research reports. Credit Suisse Group initiated coverage on shares of Chart Industries in a research note on Tuesday, August 13th. They set an “outperform” rating and a $83.00 price target on the stock. ValuEngine downgraded shares of Chart Industries from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Zacks Investment Research raised shares of Chart Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. BidaskClub downgraded shares of Chart Industries from a “sell” rating to a “strong sell” rating in a research note on Monday, August 12th. Finally, Morgan Stanley raised their target price on shares of Chart Industries from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Chart Industries has an average rating of “Hold” and an average price target of $85.43.
GTLS traded up $0.73 on Friday, reaching $63.07. The company had a trading volume of 399,151 shares, compared to its average volume of 451,016. The business has a 50 day simple moving average of $69.98 and a 200 day simple moving average of $80.23. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 31.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.36 and a current ratio of 2.00. Chart Industries has a 52-week low of $57.88 and a 52-week high of $95.66.
In related news, Director Carey Chen purchased 3,403 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $59.73 per share, for a total transaction of $203,261.19. Following the completion of the acquisition, the director now directly owns 5,500 shares in the company, valued at approximately $328,515. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.28% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GTLS. Invesco Ltd. lifted its position in Chart Industries by 791.7% during the second quarter. Invesco Ltd. now owns 698,418 shares of the industrial products company’s stock valued at $53,694,000 after buying an additional 620,090 shares during the period. BlackRock Inc. lifted its position in Chart Industries by 12.6% during the second quarter. BlackRock Inc. now owns 5,106,373 shares of the industrial products company’s stock valued at $392,575,000 after buying an additional 569,836 shares during the period. JPMorgan Chase & Co. lifted its position in Chart Industries by 5,240.9% during the second quarter. JPMorgan Chase & Co. now owns 563,995 shares of the industrial products company’s stock valued at $42,164,000 after buying an additional 553,435 shares during the period. Norges Bank purchased a new position in Chart Industries during the fourth quarter valued at $22,427,000. Finally, Emerald Advisers LLC purchased a new position in Chart Industries during the first quarter valued at $28,609,000.
Chart Industries Company Profile
Chart Industries, Inc manufactures and sells engineered equipment and packaged solutions; and provides value-add services for the energy and industrial gas industries worldwide. It operates through three segments: Energy & Chemicals, Distribution & Storage Western Hemisphere, and Distribution & Storage Eastern Hemisphere segments.
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