Chart Industries (NYSE:GTLS) Posts Quarterly Earnings Results, Misses Estimates By $2.25 EPS

Chart Industries (NYSE:GTLS) posted its quarterly earnings results on Monday. The industrial products company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($2.25), FiscalAI reports. Chart Industries had a return on equity of 13.55% and a net margin of 0.95%.The company had revenue of $884.80 million during the quarter, compared to the consensus estimate of $1.03 billion.

Chart Industries Trading Up 0.2%

Shares of GTLS traded up $0.34 during trading hours on Monday, reaching $207.77. The stock had a trading volume of 1,245,142 shares, compared to its average volume of 1,372,323. The company has a market cap of $9.95 billion, a P/E ratio of 799.14, a P/E/G ratio of 0.96 and a beta of 1.56. Chart Industries has a 52 week low of $140.50 and a 52 week high of $208.51. The company has a quick ratio of 1.09, a current ratio of 1.36 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average of $207.37 and a 200 day moving average of $205.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. increased its holdings in shares of Chart Industries by 2,251.3% in the third quarter. Balyasny Asset Management L.P. now owns 1,018,831 shares of the industrial products company’s stock worth $203,919,000 after acquiring an additional 975,501 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Chart Industries by 222.7% during the 3rd quarter. Millennium Management LLC now owns 813,865 shares of the industrial products company’s stock valued at $162,895,000 after purchasing an additional 561,622 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Chart Industries in the 3rd quarter valued at approximately $92,938,000. Absolute Gestao de Investimentos Ltda. increased its stake in Chart Industries by 104.4% during the 4th quarter. Absolute Gestao de Investimentos Ltda. now owns 900,952 shares of the industrial products company’s stock worth $185,803,000 after purchasing an additional 460,206 shares in the last quarter. Finally, Whitebox Advisors LLC acquired a new stake in Chart Industries during the 3rd quarter worth approximately $63,569,000.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GTLS shares. Zacks Research lowered Chart Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Chart Industries in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Chart Industries to a “hold” rating in a research report on Saturday, April 4th. One investment analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $202.00.

About Chart Industries

Chart Industries, Inc (NYSE: GTLS) is a leading global manufacturer of engineered equipment for the storage, distribution and end-use of hydrocarbon and industrial gases. The company specializes in cryogenic systems and components, serving key markets such as energy, chemical processing, industrial gas, food and beverage, and medical gases. Chart’s product portfolio includes large-scale cryogenic storage tanks, vaporizers, heat exchangers and pump systems designed to maintain gases in liquid and gaseous states under extreme conditions.

Founded in 1992 and headquartered in Ball Ground, Georgia, Chart Industries has evolved through targeted acquisitions and organic growth to expand its technological capabilities and geographic reach.