Linde (NASDAQ:LIN) Updates FY 2024 Earnings Guidance

Linde (NASDAQ:LIN) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 15.400-15.500 for the period, compared to the consensus earnings per share estimate of 15.510. The company issued revenue guidance of -. Linde also updated its Q4 guidance to $3.86-3.96 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Barclays upped their target price on shares of Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. BMO Capital Markets boosted their price target on shares of Linde from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Linde from $510.00 to $515.00 and gave the stock a “buy” rating in a research note on Friday. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $490.75.

Linde Stock Up 0.3 %

LIN traded up $1.16 during trading hours on Friday, hitting $457.31. 2,347,398 shares of the company’s stock were exchanged, compared to its average volume of 1,574,533. Linde has a 1-year low of $385.12 and a 1-year high of $487.49. The stock’s 50-day moving average is $472.87 and its two-hundred day moving average is $451.86. The stock has a market cap of $218.37 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 2.89 and a beta of 0.94. The company has a quick ratio of 0.80, a current ratio of 0.96 and a debt-to-equity ratio of 0.43.

Linde (NASDAQ:LIN) last announced its earnings results on Thursday, October 31st. The basic materials company reported $3.94 EPS for the quarter, topping the consensus estimate of $3.89 by $0.05. Linde had a net margin of 19.33% and a return on equity of 18.16%. The business had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter in the prior year, the company posted $3.63 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Sell-side analysts predict that Linde will post 15.52 earnings per share for the current fiscal year.

Linde Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a $1.39 dividend. This represents a $5.56 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, December 3rd. Linde’s dividend payout ratio is currently 42.22%.

Insider Buying and Selling at Linde

In other news, VP John Panikar sold 10,025 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total value of $4,639,068.75. Following the transaction, the vice president now directly owns 17,584 shares of the company’s stock, valued at $8,136,996. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

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.