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Linde (LIN) Rises As Market Takes a Dip: Key Facts
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Linde (LIN - Free Report) closed the latest trading day at $377.89, indicating a +0.05% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.5%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 1.23%.
Heading into today, shares of the gas supplier had lost 3.1% over the past month, outpacing the Basic Materials sector's loss of 5.28% and lagging the S&P 500's loss of 2.4% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Linde in its upcoming earnings disclosure. The company's earnings report is set to go public on October 26, 2023. The company is predicted to post an EPS of $3.57, indicating a 15.16% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $8.65 billion, down 1.62% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.01 per share and revenue of $33.4 billion. These totals would mark changes of +14% and +0.1%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Linde. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.16% lower. Linde currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Linde currently has a Forward P/E ratio of 26.96. This represents a premium compared to its industry's average Forward P/E of 14.39.
Also, we should mention that LIN has a PEG ratio of 2.57. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Chemical - Specialty stocks are, on average, holding a PEG ratio of 2.27 based on yesterday's closing prices.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 226, putting it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Linde (LIN) Rises As Market Takes a Dip: Key Facts
Linde (LIN - Free Report) closed the latest trading day at $377.89, indicating a +0.05% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.5%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 1.23%.
Heading into today, shares of the gas supplier had lost 3.1% over the past month, outpacing the Basic Materials sector's loss of 5.28% and lagging the S&P 500's loss of 2.4% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Linde in its upcoming earnings disclosure. The company's earnings report is set to go public on October 26, 2023. The company is predicted to post an EPS of $3.57, indicating a 15.16% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $8.65 billion, down 1.62% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.01 per share and revenue of $33.4 billion. These totals would mark changes of +14% and +0.1%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Linde. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.16% lower. Linde currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Linde currently has a Forward P/E ratio of 26.96. This represents a premium compared to its industry's average Forward P/E of 14.39.
Also, we should mention that LIN has a PEG ratio of 2.57. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Chemical - Specialty stocks are, on average, holding a PEG ratio of 2.27 based on yesterday's closing prices.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 226, putting it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.