With a market cap of $222.7 billion, Woking, the United Kingdom-based Linde plc (LIN) is an industrial gases and engineering company. It serves diverse sectors, including healthcare, chemicals and energy, and manufacturing, offering both atmospheric and process gases, as well as turnkey process plants for various industries. The company is expected to release its fiscal Q3 earnings results on Thursday, Oct. 24.
Ahead of this event, analysts project Linde to report a profit of $3.90 per share, up 7.4% from $3.63 per share in the year-ago quarter. The company has consistently surpassed Wall Street's bottom-line estimates in the last four quarterly reports. In the most recent quarter, LIN surpassed the consensus estimate by 1.6%.
For fiscal 2024, analysts forecast LIN to report EPS of $15.54, up 9.4% from $14.20 in fiscal 2023. Looking forward to fiscal 2025, its EPS is expected to grow 10.2% year-over-year to $17.12.
LIN has risen 25.4% over the past 52 weeks, underperforming the S&P 500 Index's ($SPX) nearly 33% gain. But, the stock has outpaced the Materials Select Sector SPDR Fund’s (XLB) 20.6% returns over the same time frame.
Shares of Linde recovered marginally on Aug. 2 primarily because the company reported Q2 adjusted earnings per share of $3.85, exceeding analyst expectations of $3.79. Additionally, the company raised its full-year adjusted EPS guidance to $15.40-$15.60, indicating improved profitability prospects despite ongoing sluggish industrial activity. Furthermore, effective cost-cutting measures and price increases supported its earnings, helping to instill confidence in investors amid a challenging market landscape.
Overall, analysts' consensus view on Linde stock is cautiously optimistic, with a "Moderate Buy" rating. Out of 20 analysts covering the stock, 13 give a "Strong Buy," one has a "Moderate Buy" rating, and six give a "Hold" rating.
The above consensus has remained steady over the past months. The average analyst price target for LIN is $493.89, suggesting a potential upside of only 5.7% from current levels.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
