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Here's Why Linde (LIN) Gained But Lagged the Market Today
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The most recent trading session ended with Linde (LIN - Free Report) standing at $373.73, reflecting a +0.05% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.63%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 0.39%.
Coming into today, shares of the gas supplier had lost 3.43% in the past month. In that same time, the Basic Materials sector lost 4.68%, while the S&P 500 lost 3.39%.
Investors will be eagerly watching for the performance of Linde in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 26, 2023. The company is forecasted to report an EPS of $3.58, showcasing a 15.48% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $8.7 billion, down 1.1% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.03 per share and revenue of $33.51 billion. These totals would mark changes of +14.16% and +0.44%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Linde. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Linde currently has a Zacks Rank of #4 (Sell).
Investors should also note Linde's current valuation metrics, including its Forward P/E ratio of 26.62. For comparison, its industry has an average Forward P/E of 14.51, which means Linde is trading at a premium to the group.
We can additionally observe that LIN currently boasts a PEG ratio of 2.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Chemical - Specialty industry was having an average PEG ratio of 2.54.
The Chemical - Specialty industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 228, this industry ranks in the bottom 10% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why Linde (LIN) Gained But Lagged the Market Today
The most recent trading session ended with Linde (LIN - Free Report) standing at $373.73, reflecting a +0.05% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.63%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 0.39%.
Coming into today, shares of the gas supplier had lost 3.43% in the past month. In that same time, the Basic Materials sector lost 4.68%, while the S&P 500 lost 3.39%.
Investors will be eagerly watching for the performance of Linde in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 26, 2023. The company is forecasted to report an EPS of $3.58, showcasing a 15.48% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $8.7 billion, down 1.1% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.03 per share and revenue of $33.51 billion. These totals would mark changes of +14.16% and +0.44%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Linde. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Linde currently has a Zacks Rank of #4 (Sell).
Investors should also note Linde's current valuation metrics, including its Forward P/E ratio of 26.62. For comparison, its industry has an average Forward P/E of 14.51, which means Linde is trading at a premium to the group.
We can additionally observe that LIN currently boasts a PEG ratio of 2.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Chemical - Specialty industry was having an average PEG ratio of 2.54.
The Chemical - Specialty industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 228, this industry ranks in the bottom 10% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.