Air Products and Chemicals, Inc. (NYSE:APD) to Post Q2 2024 Earnings of $2.73 Per Share, Seaport Res Ptn Forecasts

Air Products and Chemicals, Inc. (NYSE:APD) – Equities researchers at Seaport Res Ptn lowered their Q2 2024 EPS estimates for Air Products and Chemicals in a report issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now expects 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.

APD has been the topic of a number of other research reports. Wells Fargo & Company lowered shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 5th. Mizuho lowered their target price on Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. BMO Capital Markets dropped their price target on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. TheStreet downgraded Air Products and Chemicals from a “b” rating to a “c+” rating in a report on Monday, February 5th. Finally, Morgan Stanley dropped their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $276.36.

Air Products and Chemicals Stock Up 1.8 %

Shares of Air Products and Chemicals stock opened at $233.03 on Thursday. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $307.71. The company has a market cap of $51.80 billion, a P/E ratio of 22.24, a PEG ratio of 2.50 and a beta of 0.81. The company’s fifty day simple moving average is $235.64 and its two-hundred day simple moving average is $257.80.

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

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be issued a dividend of $1.77 per share. 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 dividend yield of 3.04%. The ex-dividend date is Thursday, March 28th. Air Products and Chemicals’s dividend payout ratio is presently 67.56%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Saxon Interests Inc. raised its stake in Air Products and Chemicals by 13.3% during the 1st quarter. Saxon Interests Inc. now owns 3,555 shares of the basic materials company’s stock valued at $861,000 after buying an additional 416 shares during the last quarter. West Oak Capital LLC increased its position in Air Products and Chemicals by 3.0% in the first quarter. West Oak Capital LLC now owns 8,981 shares of the basic materials company’s stock worth $2,176,000 after buying an additional 265 shares in the last quarter. MV Capital Management Inc. grew its stake in shares of Air Products and Chemicals by 1.8% during the 1st quarter. MV Capital Management Inc. now owns 11,079 shares of the basic materials company’s stock valued at $2,684,000 after acquiring an additional 200 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in Air Products and Chemicals by 6.2% during the first quarter. Capital Advisors Ltd. LLC now owns 1,013 shares of the basic materials company’s stock valued at $245,000 after purchasing an additional 59 shares in the last quarter. Finally, Applied Capital LLC FL increased its stake in shares of Air Products and Chemicals by 76.7% in the first quarter. Applied Capital LLC FL now owns 3,927 shares of the basic materials company’s stock worth $951,000 after purchasing an additional 1,704 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

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.