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Why the Market Dipped But Linde (LIN) Gained Today
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Linde (LIN - Free Report) closed the latest trading day at $407.85, indicating a +0.55% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.06%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq lost 0.76%.
Prior to today's trading, shares of the gas supplier had lost 1.24% over the past month. This has was narrower than the Basic Materials sector's loss of 6.09% and lagged the S&P 500's gain of 3.36% in that time.
The investment community will be paying close attention to the earnings performance of Linde in its upcoming release. The company is slated to reveal its earnings on February 6, 2024. The company's upcoming EPS is projected at $3.50, signifying a 10.76% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.06 billion, indicating a 2.07% increase compared to the same quarter of the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Linde. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.14% decrease. Linde presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Linde has a Forward P/E ratio of 26.15 right now. This valuation marks a premium compared to its industry's average Forward P/E of 16.04.
Also, we should mention that LIN has a PEG ratio of 2.5. 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. The Chemical - Specialty was holding an average PEG ratio of 2.5 at yesterday's closing price.
The Chemical - Specialty industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 196, this industry ranks in the bottom 23% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Why the Market Dipped But Linde (LIN) Gained Today
Linde (LIN - Free Report) closed the latest trading day at $407.85, indicating a +0.55% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.06%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq lost 0.76%.
Prior to today's trading, shares of the gas supplier had lost 1.24% over the past month. This has was narrower than the Basic Materials sector's loss of 6.09% and lagged the S&P 500's gain of 3.36% in that time.
The investment community will be paying close attention to the earnings performance of Linde in its upcoming release. The company is slated to reveal its earnings on February 6, 2024. The company's upcoming EPS is projected at $3.50, signifying a 10.76% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.06 billion, indicating a 2.07% increase compared to the same quarter of the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Linde. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.14% decrease. Linde presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Linde has a Forward P/E ratio of 26.15 right now. This valuation marks a premium compared to its industry's average Forward P/E of 16.04.
Also, we should mention that LIN has a PEG ratio of 2.5. 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. The Chemical - Specialty was holding an average PEG ratio of 2.5 at yesterday's closing price.
The Chemical - Specialty industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 196, this industry ranks in the bottom 23% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.