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Linde (LIN) Gains As Market Dips: What You Should Know

In the latest trading session, Linde (LIN) closed at $328.63, marking a +0.66% move from the previous day. This change outpaced the S&P 500's 0.07% loss on the day. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, lost 3.22%.

Heading into today, shares of the gas supplier had lost 0.86% over the past month, lagging the Basic Materials sector's gain of 8.15% and the S&P 500's gain of 4.64% in that time.

Investors will be hoping for strength from Linde as it approaches its next earnings release, which is expected to be February 7, 2023. The company is expected to report EPS of $2.91, up 5.05% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.09 billion, down 2.54% from the prior-year quarter.

Any recent changes to analyst estimates for Linde should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.8% higher. Linde is currently a Zacks Rank #2 (Buy).

Valuation is also important, so investors should note that Linde has a Forward P/E ratio of 25.18 right now. This valuation marks a premium compared to its industry's average Forward P/E of 12.18.

It is also worth noting that LIN currently has a PEG ratio of 2.52. 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. LIN's industry had an average PEG ratio of 2.09 as of yesterday's close.

The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 32% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow LIN in the coming trading sessions, be sure to utilize Zacks.com.

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Linde plc (LIN) : Free Stock Analysis Report

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