Need To Know: Analysts Are Much More Bullish On Chart Industries, Inc. (NYSE:GTLS) Revenues

Celebrations may be in order for Chart Industries, Inc. (NYSE:GTLS) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

Following the upgrade, the most recent consensus for Chart Industries from its nine analysts is for revenues of US$3.7b in 2023 which, if met, would be a sizeable 127% increase on its sales over the past 12 months. Per-share earnings are expected to leap 198% to US$5.69. Previously, the analysts had been modelling revenues of US$2.1b and earnings per share (EPS) of US$5.74 in 2023. There's clearly been a surge in bullishness around the company's sales pipeline, even if there's no real change in earnings per share forecasts.

See our latest analysis for Chart Industries

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Chart Industries' past performance and to peers in the same industry. It's clear from the latest estimates that Chart Industries' rate of growth is expected to accelerate meaningfully, with the forecast 127% annualised revenue growth to the end of 2023 noticeably faster than its historical growth of 9.7% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 4.9% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Chart Industries to grow faster than the wider industry.

The Bottom Line

The most obvious conclusion from this consensus update is that there's been no major change in the business' prospects in recent times, with analysts holding earnings per share steady, in line with previous estimates. Fortunately, analysts also upgraded their revenue estimates, and our data indicates sales are expected to perform better than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at Chart Industries.

Analysts are definitely bullish on Chart Industries, but no company is perfect. Indeed, you should know that there are several potential concerns to be aware of, including dilutive stock issuance over the past year. You can learn more, and discover the 2 other flags we've identified, for free on our platform here.

Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks that insiders are buying.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.