IGToken (IG) Price Up 6.8% This Week Q2 2019 Earnings Forecast for Linde PLC Issued By Seaport Global Securities (NYSE:LIN) June 15th, 2019 - Comments Off on Q2 2019 Earnings Forecast for Linde PLC Issued By Seaport Global Securities (NYSE:LIN) - Filed Under - by Jeff Wilder Tweet
Linde PLC (NYSE:LIN) – Equities researchers at Seaport Global Securities decreased their Q2 2019 earnings estimates for Linde in a report released on Wednesday, June 12th. Seaport Global Securities analyst M. Harrison now expects that the basic materials company will post earnings per share of $1.68 for the quarter, down from their previous forecast of $1.72. Seaport Global Securities also issued estimates for Linde’s Q3 2019 earnings at $1.73 EPS, Q2 2020 earnings at $1.89 EPS, Q3 2020 earnings at $1.93 EPS, Q4 2020 earnings at $2.06 EPS and FY2020 earnings at $7.70 EPS. Get Linde alerts:
Several other analysts also recently issued reports on LIN. ValuEngine downgraded shares of Linde from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Argus started coverage on shares of Linde in a research report on Friday, March 22nd. They issued a “hold” rating and a $175.10 price objective for the company. KeyCorp increased their price objective on shares of Linde from $188.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. SunTrust Banks increased their price objective on shares of Linde to $196.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. They noted that the move was a valuation call. Finally, Societe Generale reissued a “buy” rating on shares of Linde in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $199.14. Shares of NYSE:LIN opened at $202.71 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.35 and a quick ratio of 1.20. Linde has a 52-week low of $145.95 and a 52-week high of $203.89. The company has a market capitalization of $110.48 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 2.20 and a beta of 0.72.
Linde (NYSE:LIN) last issued its quarterly earnings data on Friday, May 10th. The basic materials company reported $1.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.15. Linde had a net margin of 23.52% and a return on equity of 14.95%. The company had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $7.03 billion.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Friday, May 31st.
In related news, Director Thomas Enders purchased 6,600 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was acquired at an average price of $172.16 per share, with a total value of $1,136,256.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link . Also, CEO Stephen F. Angel sold 56,574 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $197.27, for a total transaction of $11,160,352.98. The disclosure for this sale can be found here . Insiders have sold 141,556 shares of company stock valued at $26,887,956 in the last three months. Corporate insiders own 0.23% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can acquired a new position in Linde in the fourth quarter worth $860,000. Cadence Capital Management LLC boosted its holdings in Linde by 4.9% in the first quarter. Cadence Capital Management LLC now owns 2,458 shares of the basic materials company’s stock worth $432,000 after purchasing an additional 114 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Linde in the fourth quarter worth $1,701,000. JOYN Advisors Inc. acquired a new position in Linde in the fourth quarter worth $99,000. Finally, Kentucky Retirement Systems acquired a new position in Linde in the fourth quarter worth $3,740,000. 72.88% of the stock is owned by institutional investors and hedge funds.
About Linde
Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. Linde Linde
