Q3 2024 EPS Estimates for Air Products and Chemicals, Inc. Cut by Seaport Res Ptn (NYSE:APD)

Air Products and Chemicals, Inc. (NYSE:APD) – Analysts at Seaport Res Ptn decreased their Q3 2024 EPS estimates for Air Products and Chemicals in a research note issued on Monday, May 6th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings per share of $3.04 for the quarter, down from their prior estimate of $3.29. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Air Products and Chemicals’ current full-year earnings is $12.31 per share. Seaport Res Ptn also issued estimates for Air Products and Chemicals’ Q4 2024 earnings at $3.55 EPS and FY2025 earnings at $13.35 EPS.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the company earned $2.74 earnings per share. The company’s quarterly revenue was down 8.4% on a year-over-year basis.

Several other equities research analysts also recently issued reports on APD. JPMorgan Chase & Co. decreased their price target on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. TD Cowen raised their price target on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Mizuho dropped their price target on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Wolfe Research began coverage on shares of Air Products and Chemicals in a research note on Friday, March 1st. They issued an “outperform” rating and a $279.00 target price on the stock. Finally, Bank of America increased their price target on Air Products and Chemicals from $272.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. 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 company’s stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Hold” and a consensus price target of $277.43.

Air Products and Chemicals Trading Up 0.4 %

NYSE:APD opened at $248.65 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31. The firm has a 50-day moving average of $238.93 and a 200-day moving average of $253.28. The company has a market cap of $55.28 billion, a PE ratio of 22.44, a PEG ratio of 2.66 and a beta of 0.80. Air Products and Chemicals has a one year low of $212.24 and a one year high of $307.71.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Capital Research Global Investors grew its stake in Air Products and Chemicals by 167.2% in the 4th quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock worth $1,894,973,000 after buying an additional 4,330,471 shares in the last quarter. Morgan Stanley grew its position in Air Products and Chemicals by 4.6% in the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock worth $1,502,717,000 after acquiring an additional 235,037 shares in the last quarter. Northern Trust Corp increased its stake in Air Products and Chemicals by 1.0% in the third quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock valued at $1,085,399,000 after acquiring an additional 39,215 shares during the last quarter. Norges Bank purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $852,288,000. Finally, Raymond James & Associates lifted its stake in Air Products and Chemicals by 8.7% during the first quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock worth $508,626,000 after purchasing an additional 167,800 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

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.