Linde (NASDAQ:LIN) Announces Earnings Results

Linde (NASDAQ:LIN) announced its quarterly earnings data on Thursday. The basic materials company reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.68 by $0.07, RTT News reports. The firm had revenue of $8.10 billion for the quarter, compared to analyst estimates of $8.38 billion. Linde had a return on equity of 17.06% and a net margin of 18.87%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $3.42 EPS. Linde updated its FY24 guidance to $15.30-15.60 EPS.

Linde Stock Down 5.2 %

Shares of LIN opened at $419.62 on Friday. The stock has a market capitalization of $202.08 billion, a PE ratio of 33.30, a P/E/G ratio of 2.89 and a beta of 0.94. Linde has a 1 year low of $350.60 and a 1 year high of $477.71. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.67 and a current ratio of 0.80. The company’s 50-day simple moving average is $455.95 and its 200-day simple moving average is $422.38.

Linde Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $1.39 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.56 dividend on an annualized basis and a yield of 1.33%. Linde’s payout ratio is currently 44.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LIN shares. UBS Group cut Linde from a “buy” rating to a “neutral” rating and raised their price objective for the company from $482.00 to $510.00 in a report on Wednesday, March 27th. Wolfe Research started coverage on Linde in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Citigroup cut Linde from a “buy” rating to a “neutral” rating and raised their price objective for the company from $475.00 to $500.00 in a report on Wednesday, April 10th. Mizuho upgraded Linde from a “neutral” rating to a “buy” rating and set a $510.00 price target for the company in a report on Thursday, April 18th. Finally, Wells Fargo & Company lifted their price target on Linde from $480.00 to $540.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $460.00.

Insider Buying and Selling

In other Linde news, SVP Oliver Pfann sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $414.61, for a total transaction of $124,383.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Oliver Pfann sold 300 shares of Linde stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $414.61, for a total value of $124,383.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Sean Durbin sold 5,277 shares of Linde stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $467.39, for a total transaction of $2,466,417.03. Following the completion of the transaction, the vice president now owns 8,151 shares in the company, valued at $3,809,695.89. The disclosure for this sale can be found here. Insiders sold 78,248 shares of company stock worth $35,811,988 over the last 90 days. 0.70% of the stock is owned by insiders.

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.