Air Products and Chemicals (NYSE:APD) Issues Q3 Earnings Guidance

Air Products and Chemicals (NYSE:APD) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.00-3.05 for the period, compared to the consensus estimate of $3.29. Air Products and Chemicals also updated its FY 2024 guidance to 12.200-12.500 EPS.

Air Products and Chemicals Stock Up 2.7 %

APD stock traded up $6.52 during trading on Thursday, hitting $244.01. 1,165,196 shares of the company’s stock traded hands, compared to its average volume of 1,732,465. The business has a fifty day simple moving average of $237.72 and a two-hundred day simple moving average of $254.55. The company has a quick ratio of 1.58, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. Air Products and Chemicals has a 1 year low of $212.24 and a 1 year high of $307.71. The firm has a market capitalization of $54.24 billion, a P/E ratio of 21.44, a PEG ratio of 2.60 and a beta of 0.80.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the firm posted $2.74 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Sell-side analysts anticipate that Air Products and Chemicals will post 12.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Air Products and Chemicals from $285.00 to $240.00 and set an equal weight rating for the company in a research report on Wednesday, February 7th. TheStreet cut shares of Air Products and Chemicals from a b rating to a c+ rating in a research note on Monday, February 5th. BMO Capital Markets upped their price objective on shares of Air Products and Chemicals from $250.00 to $263.00 and gave the company an outperform rating in a research note on Wednesday. Seaport Res Ptn cut shares of Air Products and Chemicals from a buy rating to a neutral rating in a research note on Tuesday, February 6th. Finally, TD Cowen boosted their target price on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the company a buy rating in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of Hold and an average price target of $277.43.

About Air Products and Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.