Air Products and Chemicals (NYSE:APD) Updates FY 2024 Earnings Guidance

Air Products and Chemicals (NYSE:APD) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 12.200-12.500 for the period, compared to the consensus EPS estimate of 12.310. The company issued revenue guidance of -. Air Products and Chemicals also updated its FY24 guidance to $12.20-12.50 EPS.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of research analyst reports. TD Cowen raised their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the company a buy rating in a report on Wednesday. Wells Fargo & Company downgraded shares of Air Products and Chemicals from an overweight rating to an equal weight rating in a research note on Monday, February 5th. 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. Wolfe Research initiated coverage on shares of Air Products and Chemicals in a research report on Friday, March 1st. They set an outperform rating and a $279.00 target price on the stock. Finally, Citigroup cut their price target on shares of Air Products and Chemicals from $285.00 to $280.00 and set a buy rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals has an average rating of Hold and a consensus price target of $277.43.

Air Products and Chemicals Price Performance

APD traded up $2.18 during trading on Friday, hitting $245.87. The company’s stock had a trading volume of 1,474,749 shares, compared to its average volume of 1,738,766. The firm’s 50 day moving average price is $237.96 and its two-hundred day moving average price is $254.47. The company has a quick ratio of 1.58, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $54.66 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 2.62 and a beta of 0.80. 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 quarterly 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 business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.74 earnings per share. Sell-side analysts forecast that Air Products and Chemicals will post 12.34 earnings per share for the current fiscal year.

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.