Q2 2024 Earnings Estimate for Linde plc (NASDAQ:LIN) Issued By Seaport Res Ptn

Linde plc (NASDAQ:LIN) – Seaport Res Ptn cut their Q2 2024 earnings per share (EPS) estimates for shares of Linde in a report issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings of $3.87 per share for the quarter, down from their prior estimate of $3.88. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Linde’s current full-year earnings is $15.58 per share. Seaport Res Ptn also issued estimates for Linde’s Q4 2024 earnings at $3.97 EPS.

Other equities analysts have also issued reports about the company. TD Cowen raised their price target on Linde from $395.00 to $455.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Wells Fargo & Company boosted their target price on Linde from $480.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Mizuho upgraded Linde from a “neutral” rating to a “buy” rating and set a $510.00 target price for the company in a research report on Thursday. UBS Group cut Linde from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $482.00 to $510.00 in a research report on Wednesday, March 27th. Finally, Citigroup cut Linde from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $475.00 to $500.00 in a report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $456.79.

Linde Stock Performance

Shares of LIN opened at $446.30 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.67 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $214.93 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 2.92 and a beta of 0.93. The stock has a 50 day moving average of $453.89 and a 200 day moving average of $418.29. Linde has a 12 month low of $350.60 and a 12 month high of $477.71.

Linde (NASDAQ:LIN) last issued its quarterly earnings data on Tuesday, February 6th. The basic materials company reported $3.59 EPS for the quarter, topping the consensus estimate of $3.49 by $0.10. The firm had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $8.04 billion. Linde had a return on equity of 17.06% and a net margin of 18.87%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.16 earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. TradeLink Capital LLC bought a new position in Linde in the 1st quarter valued at $2,523,000. Moors & Cabot Inc. lifted its holdings in shares of Linde by 36.4% in the 1st quarter. Moors & Cabot Inc. now owns 1,773 shares of the basic materials company’s stock worth $566,000 after buying an additional 473 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Linde by 25.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,996 shares of the basic materials company’s stock worth $957,000 after buying an additional 607 shares during the period. Zions Bancorporation N.A. lifted its holdings in shares of Linde by 15.3% in the 1st quarter. Zions Bancorporation N.A. now owns 2,380 shares of the basic materials company’s stock worth $760,000 after buying an additional 316 shares during the period. Finally, Ergoteles LLC purchased a new stake in shares of Linde in the 1st quarter worth $6,682,000. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Insider Buying and Selling

In related news, SVP Oliver Pfann sold 300 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was 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 is available through this link. In other Linde news, SVP Oliver Pfann sold 300 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was 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 can be accessed through this link. Also, VP Sean Durbin sold 5,277 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $467.39, for a total value 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. In the last three months, insiders have sold 78,248 shares of company stock valued at $35,811,988. 0.70% of the stock is owned by company insiders.

Linde Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $1.39 per share. This represents a $5.56 annualized dividend and a dividend yield of 1.25%. This is a boost from Linde’s previous quarterly dividend of $0.88. The ex-dividend date was Wednesday, March 13th. Linde’s dividend payout ratio is presently 44.13%.

About Linde

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.