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Chart Industries Hits 52-Week High on Bright Prospects
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Shares of Chart Industries, Inc. (GTLS - Free Report) reached a new 52-week high of $40.74 during its trading session on Dec 12. This apex improved upon the last 52-week high of $40.37 on Dec 9.
Post the release of third-quarter 2016 results on Oct 27, shares of the company yielded 30.3% return, outperforming the return of 15.0% generated by the Zacks categorized Machinery General Industrial industry.
Also, Chart Industries closed its trading session at $40.16, yielding year-to-date return of roughly 123.6%. The trading volume for the session was 0.28 million shares. Earnings estimate revisions for 2016, along with an expected earnings growth rate of 18.4% for the next five years indicate the stock’s potential for further price appreciation.
Growth Drivers
In three of last four quarters, Chart Industries, Inc. reported better-than-expected results, with an average positive earnings surprise of 548.51%. In the third quarter, the company benefited from impressive order flow for downstream European liquefied natural gas (LNG).
In the quarters ahead, Chart Industries aims to benefit from productivity and profitability improvements initiatives. Also, the company intends to utilize its strong balance sheet to fund organic and inorganic investments. For 2016, it raised its adjusted earnings guidance to $1.20−$1.30 per share from the earlier projection of 75−95 cents.
In addition, Chart Industries anticipates a stable industrial gas business, growing BioMedical opportunities and growing demand for LNG to prove advantageous in the long run. Also, the company’s diversified customer base in various end markets, including energy & chemicals, distribution & storage, biomedical, industrial, life sciences and healthcare, will be a boon.
Estimate Revisions Show Potency
Over the last 60 days, the Zacks Consensus Estimate for Chart Industries grew 47.1% to $1.25 for 2016. Also, the company has an Earnings ESP of +81.82% for the fourth quarter of 2016. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
With a market capitalization of $1.2 billion, Chart Industries, Inc. currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the machinery industry include Enersys Inc. (ENS - Free Report) , II-VI Incorporated and Applied Industrial Technologies, Inc. (AIT - Free Report) . While Enersys and II-VI Incorporated sport a Zacks Rank #1 (Strong Buy), Applied Industrial Technologies carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Enersys Inc’s earnings estimates for fiscal 2017 improved over the last 60 days. It has an average positive earnings surprise of 3.01% for the trailing four quarters.
II-VI Incorporated reported better-than-expected results in the last four quarters, with a positive average earnings surprise of 39.80%. Also, bottom-line expectations for fiscal 2017 and fiscal 2018 improved over the past 60 days.
Applied Industrial Technologies’ earnings estimates for fiscal 2017 and fiscal 2018 have been revised upward over the last 60 days. Average earnings surprise for the last four quarters is a positive 4.93%.
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Chart Industries Hits 52-Week High on Bright Prospects
Shares of Chart Industries, Inc. (GTLS - Free Report) reached a new 52-week high of $40.74 during its trading session on Dec 12. This apex improved upon the last 52-week high of $40.37 on Dec 9.
Post the release of third-quarter 2016 results on Oct 27, shares of the company yielded 30.3% return, outperforming the return of 15.0% generated by the Zacks categorized Machinery General Industrial industry.
Also, Chart Industries closed its trading session at $40.16, yielding year-to-date return of roughly 123.6%. The trading volume for the session was 0.28 million shares. Earnings estimate revisions for 2016, along with an expected earnings growth rate of 18.4% for the next five years indicate the stock’s potential for further price appreciation.
Growth Drivers
In three of last four quarters, Chart Industries, Inc. reported better-than-expected results, with an average positive earnings surprise of 548.51%. In the third quarter, the company benefited from impressive order flow for downstream European liquefied natural gas (LNG).
In the quarters ahead, Chart Industries aims to benefit from productivity and profitability improvements initiatives. Also, the company intends to utilize its strong balance sheet to fund organic and inorganic investments. For 2016, it raised its adjusted earnings guidance to $1.20−$1.30 per share from the earlier projection of 75−95 cents.
In addition, Chart Industries anticipates a stable industrial gas business, growing BioMedical opportunities and growing demand for LNG to prove advantageous in the long run. Also, the company’s diversified customer base in various end markets, including energy & chemicals, distribution & storage, biomedical, industrial, life sciences and healthcare, will be a boon.
Estimate Revisions Show Potency
Over the last 60 days, the Zacks Consensus Estimate for Chart Industries grew 47.1% to $1.25 for 2016. Also, the company has an Earnings ESP of +81.82% for the fourth quarter of 2016. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
CHART INDUSTRIE Price and Consensus
CHART INDUSTRIE Price and Consensus | CHART INDUSTRIE Quote
With a market capitalization of $1.2 billion, Chart Industries, Inc. currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the machinery industry include Enersys Inc. (ENS - Free Report) , II-VI Incorporated and Applied Industrial Technologies, Inc. (AIT - Free Report) . While Enersys and II-VI Incorporated sport a Zacks Rank #1 (Strong Buy), Applied Industrial Technologies carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Enersys Inc’s earnings estimates for fiscal 2017 improved over the last 60 days. It has an average positive earnings surprise of 3.01% for the trailing four quarters.
II-VI Incorporated reported better-than-expected results in the last four quarters, with a positive average earnings surprise of 39.80%. Also, bottom-line expectations for fiscal 2017 and fiscal 2018 improved over the past 60 days.
Applied Industrial Technologies’ earnings estimates for fiscal 2017 and fiscal 2018 have been revised upward over the last 60 days. Average earnings surprise for the last four quarters is a positive 4.93%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>