Q2 2024 EPS Estimates for Air Products and Chemicals, Inc. (NYSE:APD) Cut by Analyst

Air Products and Chemicals, Inc. (NYSE:APD) – Analysts at Seaport Res Ptn lowered their Q2 2024 earnings estimates for Air Products and Chemicals in a research report issued to clients and investors on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will earn $2.73 per share for the quarter, down from their previous forecast of $2.74. Seaport Res Ptn 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 posted its earnings results on Monday, February 5th. The basic materials company reported $2.82 EPS for the quarter, missing the consensus estimate of $3.00 by ($0.18). The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.20 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.64 earnings per share.

APD has been the topic of several other reports. BMO Capital Markets lowered 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. Wells Fargo & Company downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research report on Monday, February 5th. Citigroup raised their price target on Air Products and Chemicals from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. TheStreet downgraded Air Products and Chemicals from a “b” rating to a “c+” rating in a research report on Monday, February 5th. Finally, Barclays lowered their price target on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $276.36.

Air Products and Chemicals Trading Down 0.6 %

Air Products and Chemicals stock opened at $231.67 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.81 and a quick ratio of 1.58. The company has a market capitalization of $51.50 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 2.52 and a beta of 0.81. Air Products and Chemicals has a one year low of $212.24 and a one year high of $307.71. The company’s fifty day moving average price is $235.88 and its two-hundred day moving average price is $257.47.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cape Cod Five Cents Savings Bank bought a new position in Air Products and Chemicals during the third quarter worth about $376,000. BKM Wealth Management LLC bought a new position in Air Products and Chemicals during the fourth quarter worth about $1,177,000. Bellwether Advisors LLC bought a new position in Air Products and Chemicals during the third quarter worth about $501,000. Zenyatta Capital Management LP lifted its stake in Air Products and Chemicals by 46.7% during the fourth quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company’s stock worth $6,024,000 after purchasing an additional 7,000 shares during the period. Finally, Bristol John W & Co. Inc. NY lifted its stake in Air Products and Chemicals by 37.6% during the fourth quarter. Bristol John W & Co. Inc. NY now owns 388,474 shares of the basic materials company’s stock worth $106,364,000 after purchasing an additional 106,054 shares during the period. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be paid a dividend of $1.77 per share. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a yield of 3.06%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 67.56%.

Air Products and Chemicals Company Profile

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.