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

Air Products and Chemicals (NYSE:APD) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $3.00-3.05 for the period, compared to the consensus EPS 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 Down 3.6 %

NYSE:APD traded down $8.65 during trading hours on Tuesday, hitting $229.47. 350,775 shares of the company were exchanged, compared to its average volume of 1,698,848. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. Air Products and Chemicals has a one year low of $212.24 and a one year high of $307.71. The company has a fifty day simple moving average of $237.37 and a 200 day simple moving average of $255.01. The stock has a market capitalization of $51.01 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 2.60 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.73 by $0.12. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. Air Products and Chemicals’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.74 EPS. Sell-side analysts expect that Air Products and Chemicals will post 12.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on APD shares. Mizuho lowered their price target on Air Products and Chemicals from $304.00 to $295.00 and set a buy rating on the stock in a research note on Tuesday, February 6th. JPMorgan Chase & Co. reduced their price objective on shares of Air Products and Chemicals from $295.00 to $270.00 and set an overweight rating for the company in a report on Tuesday, February 6th. Citigroup increased their price objective on Air Products and Chemicals from $260.00 to $285.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Morgan Stanley reduced 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 report on Wednesday, February 7th. Finally, Seaport Res Ptn cut Air Products and Chemicals from a buy rating to a neutral rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $276.36.

Air Products and Chemicals Company Profile

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.