Air Products and Chemicals (NYSE:APD) Updates FY 2022 Earnings Guidance

Air Products and Chemicals (NYSE:APDGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $10.20-$10.40 for the period, compared to the consensus earnings per share estimate of $10.28. The company issued revenue guidance of -. Air Products and Chemicals also updated its FY22 guidance to $10.20-$10.40 EPS.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD traded up $4.91 during trading on Friday, reaching $262.64. 1,406,358 shares of the stock were exchanged, compared to its average volume of 1,108,094. Air Products and Chemicals has a 12 month low of $216.24 and a 12 month high of $316.39. The firm has a market cap of $58.25 billion, a PE ratio of 25.60, a PEG ratio of 1.96 and a beta of 0.81. The stock has a 50-day moving average price of $241.57 and a 200-day moving average price of $244.03. The company has a current ratio of 1.87, a quick ratio of 1.79 and a debt-to-equity ratio of 0.48.

Air Products and Chemicals (NYSE:APDGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.01. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Air Products and Chemicals had a return on equity of 15.61% and a net margin of 19.08%. The business’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.31 earnings per share. Research analysts expect that Air Products and Chemicals will post 10.25 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 3rd will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, September 30th. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.16%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Jefferies Financial Group cut their price target on Air Products and Chemicals from $270.00 to $257.00 in a research note on Thursday, June 16th. UBS Group cut their target price on Air Products and Chemicals from $321.00 to $295.00 in a research note on Wednesday, July 13th. Cowen cut their target price on Air Products and Chemicals from $345.00 to $305.00 and set an outperform rating for the company in a research note on Tuesday, July 19th. Barclays cut their target price on Air Products and Chemicals from $300.00 to $275.00 in a research note on Monday, May 9th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Air Products and Chemicals from $275.00 to $290.00 and gave the stock a buy rating in a research note on Friday. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals presently has an average rating of Moderate Buy and an average target price of $289.87.

Institutional Investors Weigh In On Air Products and Chemicals

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in Air Products and Chemicals by 36.3% in the first quarter. Invesco Ltd. now owns 1,287,687 shares of the basic materials company’s stock worth $321,806,000 after purchasing an additional 342,982 shares during the last quarter. Mar Vista Investment Partners LLC raised its stake in shares of Air Products and Chemicals by 39.5% in the first quarter. Mar Vista Investment Partners LLC now owns 539,531 shares of the basic materials company’s stock valued at $134,834,000 after buying an additional 152,858 shares during the period. Bridgewater Associates LP bought a new stake in shares of Air Products and Chemicals in the first quarter valued at $31,425,000. Renaissance Technologies LLC raised its stake in shares of Air Products and Chemicals by 16.4% in the first quarter. Renaissance Technologies LLC now owns 680,700 shares of the basic materials company’s stock valued at $170,114,000 after buying an additional 95,800 shares during the period. Finally, Eaton Vance Management raised its stake in shares of Air Products and Chemicals by 36.9% during the 1st quarter. Eaton Vance Management now owns 285,086 shares of the basic materials company’s stock valued at $71,246,000 after purchasing an additional 76,802 shares during the period. 80.62% of the stock is currently owned by institutional investors.

Air Products and Chemicals Company Profile

(Get Rating)

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

Read More

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

Receive News & Ratings for Air Products and Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products and Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.