SunTrust Banks Research Analysts Lower Earnings Estimates for Air Products and Chemicals, Inc. (APD)

Air Products and Chemicals, Inc. (NYSE:APD) – Investment analysts at SunTrust Banks dropped their FY2017 earnings per share estimates for shares of Air Products and Chemicals in a research report issued to clients and investors on Monday. SunTrust Banks analyst J. Sheehan now forecasts that the basic materials company will post earnings of $6.25 per share for the year, down from their prior forecast of $6.27.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.06. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. Air Products and Chemicals’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.92 earnings per share.

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APD has been the subject of several other reports. KeyCorp reissued a “buy” rating and issued a $161.00 price objective on shares of Air Products and Chemicals in a research report on Friday, September 8th. Deutsche Bank AG boosted their price objective on shares of Air Products and Chemicals from $160.00 to $168.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Vertical Research reissued a “hold” rating and issued a $148.00 price objective (up from $146.00) on shares of Air Products and Chemicals in a research report on Tuesday. Credit Suisse Group reissued an “outperform” rating and issued a $158.00 price objective (up from $153.00) on shares of Air Products and Chemicals in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $155.00 price objective on shares of Air Products and Chemicals in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $155.33.

Shares of Air Products and Chemicals (APD) opened at 150.11 on Thursday. The stock’s 50 day moving average is $146.10 and its 200-day moving average is $142.70. Air Products and Chemicals has a 12-month low of $129.00 and a 12-month high of $151.42. The stock has a market capitalization of $32.72 billion, a price-to-earnings ratio of 11.28 and a beta of 1.25.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 10th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $3.80 dividend on an annualized basis and a yield of 2.53%. Air Products and Chemicals’s payout ratio is 28.51%.

A number of large investors have recently bought and sold shares of APD. Patten Group Inc. lifted its position in Air Products and Chemicals by 3.7% during the first quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 28 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Air Products and Chemicals during the first quarter valued at approximately $109,000. Guardian Life Insurance Co. of America lifted its position in Air Products and Chemicals by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 6 shares during the last quarter. Webster Bank N. A. lifted its position in Air Products and Chemicals by 68.2% during the first quarter. Webster Bank N. A. now owns 851 shares of the basic materials company’s stock valued at $115,000 after acquiring an additional 345 shares during the last quarter. Finally, IMS Capital Management purchased a new stake in Air Products and Chemicals during the second quarter valued at approximately $129,000. 88.08% of the stock is owned by institutional investors.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

Earnings History and Estimates for Air Products and Chemicals (NYSE:APD)

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