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

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

Air Products and Chemicals Trading Up 2.7 %

NYSE APD traded up $6.52 on Thursday, hitting $244.01. 1,165,196 shares of the stock were exchanged, compared to its average volume of 1,732,465. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.49. The stock has a fifty day moving average price of $237.72 and a two-hundred day moving average price of $254.55. The firm has a market capitalization of $54.24 billion, a P/E ratio of 21.44, a P/E/G ratio of 2.60 and a beta of 0.80. Air Products and Chemicals has a 52-week low of $212.24 and a 52-week high of $307.71.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.15. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.74 earnings per share. Research analysts forecast that Air Products and Chemicals will post 12.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APD has been the topic of several recent analyst reports. TheStreet downgraded shares of Air Products and Chemicals from a b rating to a c+ rating in a report on Monday, February 5th. Citigroup dropped their target price on Air Products and Chemicals from $285.00 to $280.00 and set a buy rating on the stock in a research report on Wednesday. Wells Fargo & Company lowered Air Products and Chemicals from an overweight rating to an equal weight rating in a research report on Monday, February 5th. Argus lowered Air Products and Chemicals from a buy rating to a hold rating in a research report on Monday, February 26th. Finally, Mizuho dropped their target price on Air Products and Chemicals from $295.00 to $286.00 and set a buy rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $277.43.

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.