Air Products and Chemicals, Inc. (NYSE:APD) – Stock analysts at Seaport Global Securities upped their Q1 2018 earnings estimates for shares of Air Products and Chemicals in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Harrison now forecasts that the basic materials company will earn $1.67 per share for the quarter, up from their previous estimate of $1.66. Seaport Global Securities also issued estimates for Air Products and Chemicals’ Q1 2019 earnings at $1.83 EPS, Q2 2019 earnings at $1.82 EPS, Q3 2019 earnings at $1.93 EPS, Q4 2019 earnings at $2.03 EPS and FY2019 earnings at $7.61 EPS.
Other analysts have also recently issued research reports about the stock. Barclays PLC reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Air Products and Chemicals in a report on Friday, August 4th. KeyCorp reaffirmed a “buy” rating and issued a $161.00 price objective on shares of Air Products and Chemicals in a report on Friday, September 8th. Argus increased their price objective on shares of Air Products and Chemicals from $159.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, August 28th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Air Products and Chemicals in a report on Friday, October 27th. Finally, Citigroup Inc. increased their price objective on shares of Air Products and Chemicals from $172.30 to $185.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $162.33.
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Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.08. Air Products and Chemicals had a net margin of 36.65% and a return on equity of 15.25%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period in the previous year, the business posted $2.01 earnings per share. The business’s revenue was up 13.2% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in the business. Daiwa Securities Group Inc. raised its holdings in Air Products and Chemicals by 11.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 6,536 shares of the basic materials company’s stock worth $988,000 after purchasing an additional 686 shares during the last quarter. AMG National Trust Bank bought a new stake in shares of Air Products and Chemicals in the 3rd quarter valued at about $302,000. Smith Moore & CO. bought a new stake in shares of Air Products and Chemicals in the 3rd quarter valued at about $657,000. Rockland Trust Co. bought a new stake in shares of Air Products and Chemicals in the 3rd quarter valued at about $203,000. Finally, American Century Companies Inc. increased its stake in shares of Air Products and Chemicals by 12.7% in the 3rd quarter. American Century Companies Inc. now owns 2,395,351 shares of the basic materials company’s stock valued at $362,225,000 after acquiring an additional 269,692 shares during the last quarter. 87.30% of the stock is owned by hedge funds and other institutional investors.
Air Products and Chemicals Company Profile
Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.
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