Seaport Res Ptn Weighs in on Chart Industries, Inc.’s Q1 2024 Earnings (NYSE:GTLS)

Chart Industries, Inc. (NYSE:GTLS – Get Rating) – Stock analysts at Seaport Res Ptn issued their Q1 2024 earnings estimates for shares of Chart Industries in a research note issued on Friday, July 29th. Seaport Res Ptn analyst W. Liptak expects that the industrial products company will earn $2.18 per share for the quarter. The consensus estimate for Chart Industries’ current full-year earnings is $5.18 per share. Seaport Res Ptn also issued estimates for Chart Industries’ Q2 2024 earnings at $2.11 EPS.

Chart Industries (NYSE:GTLS – Get Rating) last released its earnings results on Friday, July 29th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. The company had revenue of $404.80 million for the quarter, compared to analyst estimates of $390.83 million. Chart Industries had a net margin of 4.49% and a return on equity of 7.70%. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS.

Several other brokerages have also weighed in on GTLS. Barclays lowered shares of Chart Industries from an “overweight” rating to an “equal weight” rating and set a $189.00 price objective on the stock. in a report on Wednesday, June 8th. Piper Sandler increased their price objective on shares of Chart Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, May 17th. Cowen set a $195.00 price objective on shares of Chart Industries in a report on Monday, June 20th. Morgan Stanley raised their price target on shares of Chart Industries from $175.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, June 9th. Finally, Craig Hallum raised their price target on shares of Chart Industries from $193.00 to $206.00 in a report on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $198.33.

Chart Industries Price Performance

NYSE:GTLS opened at $195.09 on Monday. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 135.48 and a beta of 1.61. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average is $167.96 and its two-hundred day moving average is $157.44. Chart Industries has a 12-month low of $108.29 and a 12-month high of $206.29.

Institutional Trading of Chart Industries

A number of hedge funds have recently made changes to their positions in GTLS. Janney Montgomery Scott LLC grew its position in shares of Chart Industries by 23.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 1,692 shares of the industrial products company’s stock worth $270,000 after buying an additional 317 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Chart Industries during the fourth quarter worth approximately $2,040,000. Commonwealth Equity Services LLC boosted its holdings in Chart Industries by 19.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,579 shares of the industrial products company’s stock worth $570,000 after purchasing an additional 594 shares during the period. Yousif Capital Management LLC acquired a new position in Chart Industries in the fourth quarter worth $5,354,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Chart Industries by 4.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 68,910 shares of the industrial products company’s stock worth $10,990,000 after purchasing an additional 2,880 shares during the period.

About Chart Industries

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Chart Industries, Inc manufactures and sells engineered equipment for the energy and industrial gas industries worldwide. The company operates through four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing. It provides bulk and packaged gas cryogenic solutions for the storage, distribution, vaporization, and application of industrial gases; cryogenic trailers, ISO containers, bulk storage tanks, loading facilities, and regasification equipment for delivering liquefied natural gas (LNG) into virtual pipeline applications; and large vacuum insulated storage tanks as equipment for purchasers of standard liquefaction plants.

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