Q3 2024 Earnings Estimate for Air Products and Chemicals, Inc. Issued By Zacks Research (NYSE:APD)

Air Products and Chemicals, Inc. (NYSE:APD) – Investment analysts at Zacks Research decreased their Q3 2024 earnings estimates for Air Products and Chemicals in a research note issued to investors on Tuesday, May 21st. Zacks Research analyst R. Department now expects that the basic materials company will post earnings per share of $3.04 for the quarter, down from their prior estimate of $3.32. The consensus estimate for Air Products and Chemicals’ current full-year earnings is $12.31 per share. Zacks Research also issued estimates for Air Products and Chemicals’ Q4 2024 earnings at $3.52 EPS, FY2024 earnings at $12.24 EPS, Q3 2025 earnings at $3.46 EPS and Q2 2026 earnings at $3.49 EPS.

Several other research analysts have also recently weighed in on APD. Morgan Stanley reduced their price target on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Barclays reduced their price target on shares of Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 6th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Friday, May 10th. BMO Capital Markets raised their price target on shares of Air Products and Chemicals from $250.00 to $263.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, Argus downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $273.77.

Air Products and Chemicals Trading Down 0.6 %

Shares of NYSE APD opened at $264.69 on Wednesday. Air Products and Chemicals has a 1-year low of $212.24 and a 1-year high of $307.71. The company has a market cap of $58.84 billion, a PE ratio of 23.89, a P/E/G ratio of 2.84 and a beta of 0.80. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average of $241.83 and a two-hundred day moving average of $251.44.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. Air Products and Chemicals’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the business posted $2.74 EPS.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Friday, June 28th. Air Products and Chemicals’s payout ratio is 63.90%.

Institutional Investors Weigh In On Air Products and Chemicals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APD. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Air Products and Chemicals in the fourth quarter worth approximately $27,000. Roble Belko & Company Inc acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth about $27,000. Sachetta LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $27,000. Security National Bank acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $27,000. Finally, Thompson Investment Management Inc. purchased a new stake in Air Products and Chemicals during the 1st quarter valued at approximately $27,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

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.