Air Products and Chemicals, Inc. (NYSE:APD) Forecasted to Post Q3 2024 Earnings of $3.04 Per Share

Air Products and Chemicals, Inc. (NYSE:APD) – Analysts at Seaport Res Ptn dropped their Q3 2024 earnings per share (EPS) estimates for Air Products and Chemicals in a research note issued to investors on Monday, May 6th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings per share of $3.04 for the quarter, down from their prior estimate of $3.29. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Air Products and Chemicals’ current full-year earnings is $12.31 per share. Seaport Res Ptn also issued estimates for Air Products and Chemicals’ Q4 2024 earnings at $3.55 EPS and FY2025 earnings at $13.35 EPS.

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

Several other research analysts have also issued reports on APD. TheStreet lowered shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a research note on Monday, February 5th. Wolfe Research assumed coverage on shares of Air Products and Chemicals in a report on Friday, March 1st. They set an “outperform” rating and a $279.00 target price for the company. BMO Capital Markets increased their price target on Air Products and Chemicals from $250.00 to $263.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company lowered Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research report on Monday, February 5th. Finally, Mizuho dropped their price objective on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $277.43.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $246.27 on Wednesday. The business’s 50-day simple moving average is $238.93 and its 200 day simple moving average is $253.28. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. The stock has a market cap of $54.75 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 2.66 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.

Institutional Trading of Air Products and Chemicals

A number of institutional investors have recently modified their holdings of APD. Capital Research Global Investors grew its stake in shares of Air Products and Chemicals by 167.2% during the 4th quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock worth $1,894,973,000 after acquiring an additional 4,330,471 shares in the last quarter. Morgan Stanley increased its stake in Air Products and Chemicals by 4.6% in the 3rd quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock valued at $1,502,717,000 after buying an additional 235,037 shares during the last quarter. Northern Trust Corp lifted its position in Air Products and Chemicals by 1.0% during the 3rd quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock worth $1,085,399,000 after buying an additional 39,215 shares in the last quarter. Norges Bank acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth about $852,288,000. Finally, Raymond James & Associates grew its holdings in shares of Air Products and Chemicals by 8.7% in the 1st quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock valued at $508,626,000 after acquiring an additional 167,800 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Company Profile

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.