Linde (NASDAQ:LIN) Updates FY 2024 Earnings Guidance

Linde (NASDAQ:LIN) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 15.400-15.600 for the period, compared to the consensus estimate of 15.490. The company issued revenue guidance of -. Linde also updated its FY24 guidance to $15.40-15.60 EPS.

Linde Price Performance

Shares of LIN traded up $0.66 during trading hours on Friday, reaching $454.00. 2,714,589 shares of the company’s stock traded hands, compared to its average volume of 1,497,816. The firm’s 50 day simple moving average is $439.34 and its 200-day simple moving average is $439.50. The stock has a market cap of $218.23 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. Linde has a 12 month low of $361.02 and a 12 month high of $477.71. The company has a current ratio of 0.91, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38.

Linde (NASDAQ:LIN) last released its earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.06. The company had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $8.30 billion. Linde had a return on equity of 17.49% and a net margin of 19.26%. Linde’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.57 EPS. Equities analysts expect that Linde will post 15.49 EPS for the current year.

Linde Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a $1.39 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.56 dividend on an annualized basis and a yield of 1.22%. Linde’s payout ratio is 43.13%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LIN. HSBC decreased their price target on Linde from $458.00 to $452.00 and set a buy rating on the stock in a research note on Monday, May 6th. Mizuho upped their price target on Linde from $510.00 to $512.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Wells Fargo & Company upped their price target on Linde from $480.00 to $540.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. BMO Capital Markets reduced their price target on Linde from $510.00 to $475.00 and set an outperform rating on the stock in a research note on Monday, May 6th. Finally, UBS Group dropped their target price on Linde from $490.00 to $475.00 and set a neutral rating on the stock in a report on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $477.25.

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.