Linde (NASDAQ:LIN) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Linde (NASDAQ:LIN) issued its quarterly earnings results on Thursday. The basic materials company reported $3.75 EPS for the quarter, topping the consensus estimate of $3.68 by $0.07, RTT News reports. Linde had a net margin of 18.87% and a return on equity of 17.06%. The company had revenue of $8.10 billion during the quarter, compared to analysts’ expectations of $8.38 billion. During the same quarter in the previous year, the company earned $3.42 EPS. Linde’s revenue was down 1.1% on a year-over-year basis. Linde updated its FY24 guidance to $15.30-15.60 EPS.

Linde Stock Down 5.3 %

Shares of LIN stock traded down $23.39 during trading on Thursday, reaching $419.23. The company’s stock had a trading volume of 1,109,757 shares, compared to its average volume of 2,176,525. The business has a fifty day moving average price of $456.50 and a 200-day moving average price of $422.40. The company has a quick ratio of 0.67, a current ratio of 0.80 and a debt-to-equity ratio of 0.33. The company has a market cap of $201.89 billion, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 2.88 and a beta of 0.94. Linde has a one year low of $350.60 and a one year high of $477.71.

Linde Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. TD Cowen lifted their price target on shares of Linde from $395.00 to $455.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. Stifel Nicolaus cut shares of Linde from a “buy” rating to a “hold” rating and set a $429.00 price objective for the company. in a report on Monday, January 22nd. Seaport Res Ptn cut shares of Linde from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Citigroup cut shares of Linde from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $475.00 to $500.00 in a report on Wednesday, April 10th. Finally, Wolfe Research began coverage on shares of Linde in a report on Friday, March 1st. They set a “peer perform” rating for the company. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Linde has an average rating of “Moderate Buy” and a consensus price target of $460.00.

Insider Transactions at Linde

In other news, SVP Oliver Pfann sold 300 shares of the business’s 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 document filed with the SEC, which is accessible through this link. In other Linde news, SVP Oliver Pfann sold 300 shares of the company’s stock in a transaction 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 document filed with the SEC, which is available through the SEC website. Also, VP Sean Durbin sold 5,277 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $467.39, for a total transaction of $2,466,417.03. Following the sale, the vice president now directly owns 8,151 shares in the company, valued at $3,809,695.89. The disclosure for this sale can be found here. Insiders have sold a total of 78,248 shares of company stock valued at $35,811,988 over the last 90 days. 0.70% of the stock is owned by corporate 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.