Air Products & Chemicals (APD) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Air Products & Chemicals (NYSE:APD) released its quarterly earnings data on Tuesday. The basic materials company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.01, MarketWatch Earnings reports. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 earnings per share. Air Products & Chemicals updated its FY 2019 guidance to $8.05-8.30 EPS and its Q1 2019 guidance to $1.85-1.90 EPS.

Shares of NYSE:APD opened at $157.37 on Tuesday. Air Products & Chemicals has a 52 week low of $148.44 and a 52 week high of $175.17. The company has a market capitalization of $34.17 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 1.43 and a beta of 1.08. The company has a current ratio of 2.40, a quick ratio of 2.24 and a debt-to-equity ratio of 0.35.

Several large investors have recently made changes to their positions in the business. Dupont Capital Management Corp increased its stake in shares of Air Products & Chemicals by 12.8% in the third quarter. Dupont Capital Management Corp now owns 5,471 shares of the basic materials company’s stock valued at $914,000 after purchasing an additional 621 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of Air Products & Chemicals in the third quarter valued at approximately $1,654,000. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Air Products & Chemicals by 27.6% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 259,294 shares of the basic materials company’s stock valued at $43,315,000 after purchasing an additional 56,050 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of Air Products & Chemicals by 6.6% in the third quarter. Gulf International Bank UK Ltd now owns 75,014 shares of the basic materials company’s stock valued at $12,531,000 after purchasing an additional 4,639 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Air Products & Chemicals by 2.3% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 35,165 shares of the basic materials company’s stock valued at $5,874,000 after purchasing an additional 800 shares during the period. Institutional investors own 86.19% of the company’s stock.

Several equities research analysts recently weighed in on APD shares. Credit Suisse Group increased their price objective on shares of Air Products & Chemicals from $182.00 to $188.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. BNP Paribas started coverage on shares of Air Products & Chemicals in a research note on Tuesday, October 2nd. They set an “outperform” rating on the stock. Zacks Investment Research lowered shares of Air Products & Chemicals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 16th. ValuEngine lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. 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. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Air Products & Chemicals has an average rating of “Buy” and a consensus target price of $188.07.

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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: Cash Flow

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

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