Linde (NASDAQ:LIN) Releases 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.

Linde Stock Performance

LIN traded down $13.22 during midday trading on Thursday, reaching $460.18. The company had a trading volume of 993,234 shares, compared to its average volume of 1,819,619. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.95. The business has a 50-day moving average price of $473.15 and a two-hundred day moving average price of $451.70. Linde has a 12-month low of $376.70 and a 12-month high of $487.49. The stock has a market cap of $219.74 billion, a PE ratio of 36.03, a P/E/G ratio of 3.00 and a beta of 0.94.

Linde (NASDAQ:LIN) last announced its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 EPS for the quarter, beating the consensus estimate of $3.79 by $0.06. Linde had a net margin of 19.49% and a return on equity of 17.92%. The firm had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same period last year, the firm earned $3.57 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts expect that Linde will post 15.52 earnings per share for the current fiscal year.

Linde Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders 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 dividend yield of 1.21%. The ex-dividend date is Tuesday, December 3rd. Linde’s dividend payout ratio (DPR) is presently 42.31%.

Analysts Set New Price Targets

LIN has been the subject of a number of analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $477.00 target price on shares of Linde in a report on Friday, August 30th. Bank of America raised their price target on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Citigroup boosted their price objective on shares of Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. UBS Group cut their target price on shares of Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Barclays raised their price objective on shares of Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $484.18.

Insider Buying and Selling at Linde

In other Linde 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 transaction of $4,639,068.75. Following the completion of the transaction, the vice president now owns 17,584 shares of the company’s stock, valued at $8,136,996. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

Linde Company Profile

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.