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

Air Products and Chemicals (NYSE:APD) updated its third quarter earnings guidance on Tuesday. 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.

Analyst Ratings Changes

Several equities analysts recently weighed in on APD shares. Wells Fargo & Company lowered shares of Air Products and Chemicals from an overweight rating to an equal weight rating in a report on Monday, February 5th. Citigroup lowered their price objective on shares of Air Products and Chemicals from $285.00 to $280.00 and set a buy rating for the company in a research report on Wednesday. Barclays lowered 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 report on Tuesday, February 6th. BMO Capital Markets increased their target price on shares of Air Products and Chemicals from $250.00 to $263.00 and gave the stock an outperform rating in a report on Wednesday. Finally, TD Cowen increased their target price on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the stock a buy rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Air Products and Chemicals currently has a consensus rating of Hold and a consensus target price of $277.43.

Air Products and Chemicals Stock Up 0.9 %

APD stock traded up $2.18 during midday trading on Friday, reaching $245.87. 1,474,749 shares of the company’s stock traded hands, compared to its average volume of 1,738,766. Air Products and Chemicals has a 52 week low of $212.24 and a 52 week high of $307.71. 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 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 firm’s fifty day moving average price is $237.96 and its 200-day moving average price is $254.47.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $2.74 EPS. As a group, 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.