Air Products and Chemicals (NYSE:APD) Issues Q4 2022 Earnings Guidance

Air Products and Chemicals (NYSE:APDGet Rating) updated its fourth quarter 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.68-$2.88 for the period, compared to the consensus estimate of $2.75. The company issued revenue guidance of -. Air Products and Chemicals also updated its FY 2022 guidance to $10.20-$10.40 EPS.

Analyst Ratings Changes

A number of research firms have recently issued reports on APD. UBS Group dropped their price target on Air Products and Chemicals from $321.00 to $295.00 in a research report on Wednesday, July 13th. Bank of America dropped their price objective on Air Products and Chemicals from $272.00 to $271.00 and set a neutral rating on the stock in a research report on Wednesday, July 13th. Barclays dropped their price objective on Air Products and Chemicals from $300.00 to $275.00 in a research report on Monday, May 9th. Cowen dropped their price objective on Air Products and Chemicals from $345.00 to $305.00 and set an outperform rating on the stock in a research report on Tuesday, July 19th. Finally, JPMorgan Chase & Co. raised their price objective on Air Products and Chemicals from $275.00 to $295.00 in a research report on Friday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $289.87.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock traded up $4.91 during midday trading on Friday, hitting $262.64. 1,406,358 shares of the company were exchanged, compared to its average volume of 1,108,094. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.79 and a current ratio of 1.87. Air Products and Chemicals has a fifty-two week low of $216.24 and a fifty-two week high of $316.39. The business has a fifty day simple moving average of $241.57 and a two-hundred day simple moving average of $244.03. The firm has a market capitalization of $58.25 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.96 and a beta of 0.81.

Air Products and Chemicals (NYSE:APDGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The basic materials company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.61 by $0.01. Air Products and Chemicals had a return on equity of 15.61% and a net margin of 19.08%. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period last year, the company earned $2.31 earnings per share. Air Products and Chemicals’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, sell-side analysts forecast that Air Products and Chemicals will post 10.25 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 3rd will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.47%. The ex-dividend date is Friday, September 30th. Air Products and Chemicals’s payout ratio is currently 63.16%.

Institutional Investors Weigh In On Air Products and Chemicals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APD. FCA Corp TX raised its stake in Air Products and Chemicals by 1.3% during the 1st quarter. FCA Corp TX now owns 4,024 shares of the basic materials company’s stock valued at $1,006,000 after acquiring an additional 50 shares during the last quarter. Cibc World Market Inc. boosted its holdings in shares of Air Products and Chemicals by 6.9% during the first quarter. Cibc World Market Inc. now owns 1,180 shares of the basic materials company’s stock worth $295,000 after purchasing an additional 76 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Air Products and Chemicals by 0.8% during the first quarter. Wellington Management Group LLP now owns 12,189 shares of the basic materials company’s stock worth $3,046,000 after purchasing an additional 97 shares during the last quarter. Frontier Wealth Management LLC raised its position in shares of Air Products and Chemicals by 13.2% in the 1st quarter. Frontier Wealth Management LLC now owns 858 shares of the basic materials company’s stock worth $213,000 after buying an additional 100 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Air Products and Chemicals by 17.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 755 shares of the basic materials company’s stock worth $188,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 80.62% of the company’s stock.

About Air Products and Chemicals

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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; 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 refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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

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