Linde PLC (LIN) to Post FY2019 Earnings of $6.90 Per Share, KeyCorp Forecasts

Linde PLC (NYSE:LIN) – KeyCorp raised their FY2019 earnings estimates for shares of Linde in a research report issued to clients and investors on Sunday, May 12th. KeyCorp analyst M. Sison now expects that the basic materials company will post earnings of $6.90 per share for the year, up from their previous forecast of $6.80. KeyCorp has a “Overweight” rating and a $205.00 price objective on the stock. KeyCorp also issued estimates for Linde’s Q4 2019 earnings at $1.75 EPS.

Linde (NYSE:LIN) last issued its earnings results on Friday, May 10th. The basic materials company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.15. Linde had a return on equity of 14.95% and a net margin of 23.52%. The business had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $7.03 billion.

LIN has been the topic of a number of other research reports. Zacks Investment Research upgraded Linde from a “sell” rating to a “hold” rating in a research report on Wednesday. Barclays upped their price target on Linde from $180.00 to $195.00 and gave the company an “equal weight” rating in a research report on Tuesday. BMO Capital Markets upgraded Linde from a “market perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Monday. Societe Generale reiterated a “buy” rating on shares of Linde in a research report on Monday, April 15th. Finally, SunTrust Banks upped their price target on 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $193.73.

Shares of LIN opened at $180.86 on Tuesday. Linde has a 12-month low of $145.95 and a 12-month high of $185.92. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $98.55 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.97 and a beta of 0.77.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Linde by 2.1% in the first quarter. BlackRock Inc. now owns 31,573,871 shares of the basic materials company’s stock worth $5,554,790,000 after buying an additional 636,524 shares during the last quarter. Norges Bank purchased a new position in shares of Linde during the fourth quarter worth approximately $2,624,717,000. Massachusetts Financial Services Co. MA acquired a new stake in Linde in the fourth quarter valued at approximately $2,336,558,000. Bank of New York Mellon Corp acquired a new stake in Linde in the fourth quarter valued at approximately $1,604,835,000. Finally, Oregon Public Employees Retirement Fund acquired a new stake in Linde in the fourth quarter valued at approximately $60,000. 74.12% of the stock is owned by institutional investors and hedge funds.

In other Linde news, CEO Stephen F. Angel sold 54,994 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $184.46, for a total value of $10,144,193.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anne K. Roby sold 3,159 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.77, for a total value of $558,416.43. The disclosure for this sale can be found here. Insiders have sold 65,926 shares of company stock valued at $12,140,692 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors 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 1.94%. The ex-dividend date of this dividend is Friday, May 31st.

Linde Company Profile

Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. It also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, and hydrogen and synthesis gas plants.

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Earnings History and Estimates for Linde (NYSE:LIN)

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