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

Air Products and Chemicals, Inc. (NYSE:APD) – Research analysts at Seaport Res Ptn lowered their Q2 2024 earnings per share estimates for shares of 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 post earnings per share of $2.73 for the quarter, down from their prior estimate 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.

Other analysts have also recently issued reports about the company. BMO Capital Markets reduced their price target on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Morgan Stanley dropped their price objective on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Mizuho dropped their price objective on Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. UBS Group downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $328.00 to $241.00 in a research note on Thursday, February 8th. Finally, StockNews.com downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Sunday, April 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $276.36.

Air Products and Chemicals Stock Down 0.6 %

APD 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 business has a 50 day simple moving average of $235.88 and a 200-day simple moving average of $257.47. The stock has a market capitalization of $51.50 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.52 and a beta of 0.81. Air Products and Chemicals has a 12 month low of $212.24 and a 12 month high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its quarterly 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 during the quarter, compared to analyst estimates of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.64 earnings per share.

Institutional Investors Weigh In On Air Products and Chemicals

Several hedge funds have recently made changes to their positions in the business. Kesler Norman & Wride LLC boosted its holdings in shares of Air Products and Chemicals by 4.2% during the first quarter. Kesler Norman & Wride LLC now owns 22,586 shares of the basic materials company’s stock worth $5,472,000 after purchasing an additional 902 shares during the last quarter. Everett Harris & Co. CA boosted its holdings in Air Products and Chemicals by 19.9% in the first quarter. Everett Harris & Co. CA now owns 2,532 shares of the basic materials company’s stock valued at $613,000 after acquiring an additional 420 shares during the last quarter. American National Bank & Trust Co. VA acquired a new position in Air Products and Chemicals in the first quarter valued at $838,000. Insight Folios Inc boosted its holdings in Air Products and Chemicals by 3.6% in the first quarter. Insight Folios Inc now owns 1,324 shares of the basic materials company’s stock valued at $321,000 after acquiring an additional 46 shares during the last quarter. Finally, Powers Advisory Group LLC boosted its holdings in Air Products and Chemicals by 32.9% in the first quarter. Powers Advisory Group LLC now owns 1,704 shares of the basic materials company’s stock valued at $413,000 after acquiring an additional 422 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be issued 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 annualized dividend and a dividend yield of 3.06%. Air Products and Chemicals’s dividend payout ratio (DPR) is 67.56%.

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.