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Linde (LIN) Stock Dips While Market Gains: Key Facts
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Linde (LIN - Free Report) closed at $401.28 in the latest trading session, marking a -1.62% move from the prior day. This change lagged the S&P 500's daily gain of 0.08%. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq increased by 0.36%.
The the stock of gas supplier has fallen by 0.5% in the past month, leading the Basic Materials sector's loss of 6.84% and undershooting the S&P 500's gain of 2.4%.
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 February 6, 2024. On that day, Linde is projected to report earnings of $3.50 per share, which would represent year-over-year growth of 10.76%. Meanwhile, our latest consensus estimate is calling for revenue of $8.06 billion, up 2.07% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Linde. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. Over the past month, there's been a 0.14% fall in the Zacks Consensus EPS estimate. Linde is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Linde's current valuation metrics, including its Forward P/E ratio of 26.29. This expresses a premium compared to the average Forward P/E of 15.64 of its industry.
It's also important to note that LIN currently trades at a PEG ratio of 2.51. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Chemical - Specialty industry was having an average PEG ratio of 2.5.
The Chemical - Specialty industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 187, this industry ranks in the bottom 26% of all industries, numbering over 250.
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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Linde (LIN) Stock Dips While Market Gains: Key Facts
Linde (LIN - Free Report) closed at $401.28 in the latest trading session, marking a -1.62% move from the prior day. This change lagged the S&P 500's daily gain of 0.08%. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq increased by 0.36%.
The the stock of gas supplier has fallen by 0.5% in the past month, leading the Basic Materials sector's loss of 6.84% and undershooting the S&P 500's gain of 2.4%.
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 February 6, 2024. On that day, Linde is projected to report earnings of $3.50 per share, which would represent year-over-year growth of 10.76%. Meanwhile, our latest consensus estimate is calling for revenue of $8.06 billion, up 2.07% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Linde. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. Over the past month, there's been a 0.14% fall in the Zacks Consensus EPS estimate. Linde is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Linde's current valuation metrics, including its Forward P/E ratio of 26.29. This expresses a premium compared to the average Forward P/E of 15.64 of its industry.
It's also important to note that LIN currently trades at a PEG ratio of 2.51. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Chemical - Specialty industry was having an average PEG ratio of 2.5.
The Chemical - Specialty industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 187, this industry ranks in the bottom 26% of all industries, numbering over 250.
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 follow all of these stock-moving metrics, and many more, on Zacks.com.