FY2018 EPS Estimates for Air Products & Chemicals, Inc. (APD) Decreased by Seaport Global Securities

Air Products & Chemicals, Inc. (NYSE:APD) – Research analysts at Seaport Global Securities reduced their FY2018 earnings estimates for shares of Air Products & Chemicals in a research note issued to investors on Wednesday, October 17th. Seaport Global Securities analyst M. Harrison now expects that the basic materials company will earn $7.43 per share for the year, down from their previous forecast of $7.45. Seaport Global Securities also issued estimates for Air Products & Chemicals’ Q3 2019 earnings at $2.06 EPS, Q4 2019 earnings at $2.09 EPS and FY2019 earnings at $7.96 EPS.

Several other brokerages also recently weighed in on APD. Sanford C. Bernstein began coverage on shares of Air Products & Chemicals in a research note on Monday, September 24th. They issued an “outperform” rating and a $202.00 target price for the company. BNP Paribas began coverage on shares of Air Products & Chemicals in a research note on Tuesday, October 2nd. They issued an “outperform” rating for the company. ValuEngine upgraded shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a research note on Thursday, October 4th. Zacks Investment Research downgraded shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Finally, Vertical Research upgraded shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. One analyst has rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $186.65.

Shares of APD opened at $155.40 on Friday. The company has a market capitalization of $34.36 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.44 and a beta of 1.05. Air Products & Chemicals has a twelve month low of $152.71 and a twelve month high of $175.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.40 and a quick ratio of 2.24.

Air Products & Chemicals (NYSE:APD) last announced its earnings results on Thursday, July 26th. The basic materials company reported $1.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.11. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.31 billion. Air Products & Chemicals had a net margin of 17.13% and a return on equity of 15.15%. Air Products & Chemicals’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $1.65 earnings per share.

Large investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC raised its holdings in shares of Air Products & Chemicals by 19.9% during the first quarter. Lord Abbett & CO. LLC now owns 76,400 shares of the basic materials company’s stock worth $12,150,000 after purchasing an additional 12,700 shares during the last quarter. United Capital Financial Advisers LLC raised its holdings in shares of Air Products & Chemicals by 29.6% during the first quarter. United Capital Financial Advisers LLC now owns 7,965 shares of the basic materials company’s stock worth $1,267,000 after purchasing an additional 1,818 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Air Products & Chemicals by 32.2% during the first quarter. LPL Financial LLC now owns 15,863 shares of the basic materials company’s stock worth $2,523,000 after purchasing an additional 3,868 shares during the last quarter. Mariner LLC purchased a new position in shares of Air Products & Chemicals during the first quarter worth $333,000. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in shares of Air Products & Chemicals by 37.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 163,537 shares of the basic materials company’s stock worth $26,008,000 after purchasing an additional 44,233 shares during the last quarter. Institutional investors and hedge funds own 86.10% of the company’s stock.

About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and 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 metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.

Further Reading: What does earnings per share mean?

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

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