Brokers Offer Predictions for Air Products and Chemicals, Inc.’s Q2 2024 Earnings (NYSE:APD)

Air Products and Chemicals, Inc. (NYSE:APD) – Stock analysts at Seaport Res Ptn decreased their Q2 2024 EPS estimates for Air Products and Chemicals in a research report issued to clients and investors on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will earn $2.73 per share for the quarter, down from their previous forecast of $2.74. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Air Products and Chemicals’ current full-year earnings is $12.38 per share. Seaport Res Ptn also issued estimates for Air Products and Chemicals’ Q3 2024 earnings at $3.29 EPS and FY2024 earnings at $12.25 EPS.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($0.18). The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.64 EPS.

A number of other analysts also recently issued reports on APD. Wells Fargo & Company downgraded shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday, February 5th. Barclays reduced 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. Mizuho lowered their target price on Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Morgan Stanley dropped their target price on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Finally, Bank of America upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price target for the company in a research note on Thursday, February 15th. Two investment 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $276.36.

Air Products and Chemicals Trading Up 0.6 %

NYSE APD opened at $229.08 on Thursday. Air Products and Chemicals has a 52 week low of $212.24 and a 52 week high of $307.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. The stock’s 50 day moving average price is $235.38 and its two-hundred day moving average price is $257.98. The stock has a market capitalization of $50.92 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 2.54 and a beta of 0.81.

Hedge Funds Weigh In On Air Products and Chemicals

Several large investors have recently modified their holdings of APD. Cibc World Market Inc. lifted its holdings in shares of Air Products and Chemicals by 6.9% during the first quarter. Cibc World Market Inc. now owns 1,180 shares of the basic materials company’s stock worth $295,000 after buying an additional 76 shares in the last quarter. Prudential PLC acquired a new position in Air Products and Chemicals in the first quarter valued at about $1,010,000. Cetera Investment Advisers grew its stake in Air Products and Chemicals by 22.3% during the first quarter. Cetera Investment Advisers now owns 5,890 shares of the basic materials company’s stock worth $1,472,000 after buying an additional 1,075 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Air Products and Chemicals by 4.4% in the 1st quarter. Baird Financial Group Inc. now owns 105,875 shares of the basic materials company’s stock valued at $26,459,000 after buying an additional 4,470 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Air Products and Chemicals by 17.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $188,000 after buying an additional 110 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 3.09%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Thursday, March 28th. Air Products and Chemicals’s payout ratio is 67.56%.

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.