Air Products and Chemicals, Inc. (NYSE:APD – Get Rating) – Zacks Research raised their Q3 2023 earnings per share estimates for Air Products and Chemicals in a report released on Tuesday, May 23rd. Zacks Research analyst A. Barman now expects that the basic materials company will post earnings of $2.90 per share for the quarter, up from their prior estimate of $2.87. The consensus estimate for Air Products and Chemicals’ current full-year earnings is $11.39 per share. Zacks Research also issued estimates for Air Products and Chemicals’ FY2023 earnings at $11.38 EPS, Q1 2025 earnings at $3.39 EPS and FY2025 earnings at $13.52 EPS.
Air Products and Chemicals (NYSE:APD – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.10. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Air Products and Chemicals had a return on equity of 16.96% and a net margin of 16.58%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.38 earnings per share.
Air Products and Chemicals Stock Up 0.5 %
Shares of NYSE:APD opened at $272.12 on Thursday. The stock has a fifty day simple moving average of $282.81 and a two-hundred day simple moving average of $294.28. The stock has a market capitalization of $60.44 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.51 and a beta of 0.84. Air Products and Chemicals has a 12-month low of $218.88 and a 12-month high of $328.56. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61.
Air Products and Chemicals Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 3rd will be given a $1.75 dividend. The ex-dividend date is Friday, June 30th. This represents a $7.00 annualized dividend and a dividend yield of 2.57%. Air Products and Chemicals’s payout ratio is 71.57%.
Institutional Investors Weigh In On Air Products and Chemicals
A number of hedge funds have recently made changes to their positions in the company. Empower Advisory Group LLC purchased a new stake in shares of Air Products and Chemicals in the first quarter worth about $73,764,000. Legato Capital Management LLC lifted its position in shares of Air Products and Chemicals by 94.3% in the first quarter. Legato Capital Management LLC now owns 6,232 shares of the basic materials company’s stock worth $1,790,000 after buying an additional 3,025 shares in the last quarter. Old North State Trust LLC lifted its position in shares of Air Products and Chemicals by 532.2% in the first quarter. Old North State Trust LLC now owns 2,200 shares of the basic materials company’s stock worth $102,000 after buying an additional 1,852 shares in the last quarter. Toroso Investments LLC lifted its position in shares of Air Products and Chemicals by 0.6% in the first quarter. Toroso Investments LLC now owns 17,279 shares of the basic materials company’s stock worth $4,963,000 after buying an additional 104 shares in the last quarter. Finally, 3Chopt Investment Partners LLC purchased a new stake in shares of Air Products and Chemicals in the first quarter worth about $384,000. 82.74% of the stock is currently owned by hedge funds and other institutional investors.
About Air Products and Chemicals
Air Products & Chemicals, Inc engages in the manufacture and distribution of atmospheric gases. It operates through the following segments: Industrial Gases-Americas, Industrial Gases-EMEA (Europe, Middle East, and Africa), Industrial Gases-Asia, Industrial Gases-Global, and Corporate & Other. The Industrial Gases-America, EMEA, and Asia segment markets and produces atmospheric gases, such as 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 and processing of gases, such as air separation units and non-cryogenic generators.
- Get a free copy of the StockNews.com research report on Air Products and Chemicals (APD)
- Ralph Lauren’s Styled Dividend Is Still In Season
- Dollar Tree Falls As Theft Cuts Into Bottom Line
- Best Buy’s Comeback Is Still At Play, Earnings Call For Patience
- e.l.f. Beauty Has Giant Quarter, Shares Hit New High
- If You Can Only Pick One Stock For The Rest Of 2023, Pick Nvidia
Receive News & Ratings for Air Products and Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products and Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.