Air Products and Chemicals (NYSE:APD) Issues FY24 Earnings Guidance

Air Products and Chemicals (NYSE:APD) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $12.20-12.50 for the period, compared to the consensus earnings per share estimate of $12.35. Air Products and Chemicals also updated its FY 2024 guidance to 12.200-12.500 EPS.

Air Products and Chemicals Trading Up 0.9 %

NYSE:APD traded up $2.18 on Friday, reaching $245.87. The stock had a trading volume of 1,474,749 shares, compared to its average volume of 1,738,766. The company has a market cap of $54.66 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 2.62 and a beta of 0.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.58. The firm’s fifty day moving average is $237.96 and its two-hundred day moving average is $254.47. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $307.71.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.74 EPS. Equities analysts expect that Air Products and Chemicals will post 12.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

APD has been the topic of a number of recent research reports. BMO Capital Markets upped their target price on shares of Air Products and Chemicals from $250.00 to $263.00 and gave the company an outperform rating in a report on Wednesday. Barclays dropped their price objective on shares of Air Products and Chemicals from $260.00 to $245.00 and set an equal weight rating for the company in a research note on Tuesday, February 6th. Bank of America upped their price objective on shares of Air Products and Chemicals from $272.00 to $275.00 and gave the company a buy rating in a research note on Wednesday. TheStreet downgraded shares of Air Products and Chemicals from a b rating to a c+ rating in a research note on Monday, February 5th. Finally, Argus downgraded shares of Air Products and Chemicals from a buy rating to a hold rating in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price 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.