Q2 2024 Earnings Estimate for Air Products and Chemicals, Inc. Issued By Seaport Res Ptn (NYSE:APD)

Air Products and Chemicals, Inc. (NYSE:APD) – Equities research analysts at Seaport Res Ptn lowered their Q2 2024 earnings estimates for shares of Air Products and Chemicals in a report released on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings of $2.73 per share for the quarter, down from their prior estimate 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 announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter last year, the company posted $2.64 EPS. Air Products and Chemicals’s revenue for the quarter was down 5.6% compared to the same quarter last year.

Several other brokerages also recently weighed in on APD. Wells Fargo & Company downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday, February 5th. TheStreet lowered shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a research note on Monday, February 5th. UBS Group downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $328.00 to $241.00 in a research note on Thursday, February 8th. Bank of America raised shares of 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 report on Thursday, February 15th. Finally, TD Cowen lowered their price objective on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Hold” and a consensus price target of $276.36.

Air Products and Chemicals Stock Up 0.6 %

APD stock opened at $229.08 on Thursday. The business has a 50 day moving average of $235.38 and a 200 day moving average of $257.98. The firm has a market cap of $50.92 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 2.54 and a beta of 0.81. Air Products and Chemicals has a twelve month low of $212.24 and a twelve month high of $307.71. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of APD. Trilogy Capital Inc. bought a new stake in shares of Air Products and Chemicals in the 1st quarter worth about $2,625,000. Founders Financial Securities LLC lifted its stake in Air Products and Chemicals by 140.6% in the first quarter. Founders Financial Securities LLC now owns 2,505 shares of the basic materials company’s stock worth $607,000 after purchasing an additional 1,464 shares during the last quarter. Symphony Financial Ltd. Co. boosted its position in shares of Air Products and Chemicals by 19.7% during the first quarter. Symphony Financial Ltd. Co. now owns 2,268 shares of the basic materials company’s stock valued at $549,000 after buying an additional 373 shares during the period. Vicus Capital bought a new position in shares of Air Products and Chemicals during the first quarter valued at approximately $321,000. Finally, Romano Brothers AND Company raised its holdings in shares of Air Products and Chemicals by 133.0% in the first quarter. Romano Brothers AND Company now owns 14,609 shares of the basic materials company’s stock worth $3,539,000 after buying an additional 8,340 shares during the period. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Increases Dividend

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

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.