Air Products and Chemicals (NYSE:APD) Issues Q3 Earnings Guidance

Air Products and Chemicals (NYSE:APD) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $3.00-3.05 for the period, compared to the consensus EPS estimate of $3.29. Air Products and Chemicals also updated its FY 2024 guidance to 12.200-12.500 EPS.

Analysts Set New Price Targets

Several research firms recently issued reports on APD. Wolfe Research began coverage on shares of Air Products and Chemicals in a report on Friday, March 1st. They set an outperform rating and a $279.00 price target for the company. Bank of America upped their target price on shares of Air Products and Chemicals from $272.00 to $275.00 and gave the stock a buy rating in a research report on Wednesday. TheStreet lowered shares of Air Products and Chemicals from a b rating to a c+ rating in a research report on Monday, February 5th. StockNews.com upgraded shares of Air Products and Chemicals from a sell rating to a hold rating in a research report on Monday, April 22nd. Finally, BMO Capital Markets upped their target price on shares of Air Products and Chemicals from $250.00 to $263.00 and gave the stock an outperform rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Air Products and Chemicals presently has a consensus rating of Hold and a consensus target price of $277.43.

Air Products and Chemicals Price Performance

Shares of APD stock traded up $4.34 during trading hours on Wednesday, hitting $240.68. The company’s stock had a trading volume of 1,174,401 shares, compared to its average volume of 1,730,984. The business has a fifty day moving average of $237.53 and a 200-day moving average of $254.67. The stock has a market cap of $53.50 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 2.62 and a beta of 0.81. Air Products and Chemicals has a twelve month low of $212.24 and a twelve month high of $307.71. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the business earned $2.74 earnings per share. The company’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Air Products and Chemicals will post 12.38 EPS for the current year.

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.