Posted by admin on Aug 19th, 2022

Air Products and Chemicals, Inc. (NYSE:APD – Get Rating) – Research analysts at Seaport Res Ptn dropped their Q3 2023 earnings per share (EPS) estimates for shares of Air Products and Chemicals in a research note issued to investors on Tuesday, August 16th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings per share of $2.92 for the quarter, down from their prior forecast of $2.99. The consensus estimate for Air Products and Chemicals’ current full-year earnings is $10.28 per share. Seaport Res Ptn also issued estimates for Air Products and Chemicals’ FY2024 earnings at $12.75 EPS.

Other analysts have also issued reports about the company. Wells Fargo & Company cut their price target on Air Products and Chemicals from $255.00 to $243.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Credit Suisse Group lowered their price target on Air Products and Chemicals from $302.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, May 20th. Cowen reduced their price objective on Air Products and Chemicals from $345.00 to $305.00 in a report on Tuesday, July 19th. BMO Capital Markets upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $283.00 to $321.00 in a research note on Monday. Finally, JPMorgan Chase & Co. upped their target price on Air Products and Chemicals from $275.00 to $295.00 in a research note on Friday, August 5th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $292.56.

APD stock opened at $267.60 on Thursday. The business’s 50-day moving average price is $244.28 and its two-hundred day moving average price is $243.16. The company has a current ratio of 1.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.48. The firm has a market cap of $59.35 billion, a PE ratio of 26.08, a P/E/G ratio of 1.87 and a beta of 0.81. Air Products and Chemicals has a 1-year low of $216.24 and a 1-year high of $316.39.

Air Products and Chemicals (NYSE:APD – Get Rating) last released its earnings results on Thursday, August 4th. The basic materials company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.61 by $0.01. Air Products and Chemicals had a return on equity of 15.61% and a net margin of 19.08%. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the firm earned $2.31 EPS. The business’s revenue for the quarter was up 22.4% on a year-over-year basis.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Air Products and Chemicals by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 19,964,806 shares of the basic materials company’s stock worth $4,989,404,000 after acquiring an additional 326,891 shares during the last quarter. BlackRock Inc. lifted its stake in Air Products and Chemicals by 1.8% in the first quarter. BlackRock Inc. now owns 14,555,663 shares of the basic materials company’s stock worth $3,637,608,000 after purchasing an additional 259,383 shares during the last quarter. State Street Corp lifted its stake in Air Products and Chemicals by 0.4% in the fourth quarter. State Street Corp now owns 10,840,521 shares of the basic materials company’s stock worth $3,314,420,000 after purchasing an additional 44,161 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Air Products and Chemicals by 6.5% in the fourth quarter. JPMorgan Chase & Co. now owns 6,305,512 shares of the basic materials company’s stock valued at $1,918,516,000 after acquiring an additional 386,592 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Air Products and Chemicals by 0.5% in the second quarter. Wells Fargo & Company MN now owns 4,085,969 shares of the basic materials company’s stock valued at $982,594,000 after acquiring an additional 21,569 shares during the period. Hedge funds and other institutional investors own 80.62% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 3rd will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 2.42%. Air Products and Chemicals’s payout ratio is currently 63.16%.

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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