Equities research analysts forecast that Chart Industries, Inc. (NASDAQ:GTLS) will post $385.07 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Chart Industries’ earnings. The lowest sales estimate is $361.10 million and the highest is $404.00 million. Chart Industries reported sales of $272.20 million during the same quarter last year, which indicates a positive year over year growth rate of 41.5%. The business is expected to report its next earnings report on Thursday, October 17th.
According to Zacks, analysts expect that Chart Industries will report full year sales of $1.41 billion for the current financial year, with estimates ranging from $1.36 billion to $1.43 billion. For the next 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 averages are an average based on a survey of sell-side research analysts that cover Chart Industries.
Chart Industries (NASDAQ:GTLS) last posted its quarterly earnings results on Thursday, July 18th. The industrial products company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. The business had revenue of $309.60 million during the quarter, compared to analysts’ expectations of $322.35 million. Chart Industries had a return on equity of 8.67% and a net margin of 7.34%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS.
Several equities analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Chart Industries from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Raymond James raised Chart Industries from a “market perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Tuesday, August 13th. BidaskClub cut Chart Industries from a “sell” rating to a “strong sell” rating in a report on Monday, August 12th. Credit Suisse Group assumed coverage on Chart Industries in a report on Tuesday, August 13th. They set an “outperform” rating and a $83.00 price objective for the company. Finally, ValuEngine cut Chart Industries from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $85.43.
In related news, Director Carey Chen purchased 3,403 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $59.73 per share, with a total value 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 SEC, which can be accessed through the SEC website. Insiders own 0.28% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Chart Industries during the 4th quarter valued at $22,427,000. Geode Capital Management LLC raised its holdings in Chart Industries by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 351,182 shares of the industrial products company’s stock worth $22,837,000 after purchasing an additional 27,985 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Chart Industries by 2.0% in the 1st quarter. State of Alaska Department of Revenue now owns 10,648 shares of the industrial products company’s stock worth $963,000 after purchasing an additional 210 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Chart Industries by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the industrial products company’s stock worth $1,068,000 after purchasing an additional 123 shares in the last quarter. Finally, Sciencast Management LP bought a new position in Chart Industries in the 1st quarter worth $459,000.
GTLS stock traded up $2.00 during midday trading on Friday, hitting $63.42. 13,245 shares of the stock were exchanged, compared to its average volume of 497,522. The stock’s 50-day moving average price is $71.34 and its 200-day moving average price is $80.63. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 31.41 and a beta of 1.08. Chart Industries has a fifty-two week low of $57.88 and a fifty-two week high of $95.66. 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 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Chart Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chart Industries and related companies with MarketBeat.com's FREE daily email newsletter.