Jefferies Financial Group Research Analysts Reduce Earnings Estimates for Air Products and Chemicals, Inc. (NYSE:APD)

Air Products and Chemicals, Inc. (NYSE:APD – Get Rating) – Equities researchers at Jefferies Financial Group reduced their Q3 2022 earnings per share (EPS) estimates for Air Products and Chemicals in a note issued to investors on Monday, May 9th. Jefferies Financial Group analyst L. Alexander now anticipates that the basic materials company will earn $2.60 per share for the quarter, down from their previous estimate of $2.72. Jefferies Financial Group also issued estimates for Air Products and Chemicals’ Q4 2022 earnings at $2.79 EPS and FY2025 earnings at $14.80 EPS.

Air Products and Chemicals (NYSE:APD – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.03. Air Products and Chemicals had a net margin of 19.63% and a return on equity of 15.32%. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year.

APD has been the subject of several other reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Air Products and Chemicals from $300.00 to $272.00 in a research note on Tuesday. JPMorgan Chase & Co. upgraded shares of Air Products and Chemicals from a “neutral” rating to an “overweight” rating and set a $275.00 target price for the company in a research note on Monday, March 21st. Cowen decreased their target price on shares of Air Products and Chemicals from $365.00 to $345.00 in a research note on Monday, February 7th. Wells Fargo & Company decreased their target price on shares of Air Products and Chemicals from $325.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, April 18th. Finally, BMO Capital Markets downgraded shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $383.00 to $280.00 in a research note on Tuesday, February 8th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals currently has an average rating of “Buy” and an average target price of $308.20.

Air Products and Chemicals stock opened at $230.68 on Wednesday. Air Products and Chemicals has a 52-week low of $216.24 and a 52-week high of $316.39. The firm has a fifty day moving average of $239.30 and a 200-day moving average of $269.17. The firm has a market capitalization of $51.16 billion, a P/E ratio of 22.98, a PEG ratio of 1.93 and a beta of 0.87. The company has a quick ratio of 2.28, a current ratio of 1.95 and a debt-to-equity ratio of 0.47.

Several large investors have recently modified their holdings of APD. Rational Advisors LLC raised its holdings in shares of Air Products and Chemicals by 126.3% during the fourth quarter. Rational Advisors LLC now owns 86 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 48 shares during the period. D Orazio & Associates Inc. acquired a new stake in shares of Air Products and Chemicals during the third quarter worth $28,000. Arlington Partners LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth $28,000. Northwest Investment Counselors LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter worth about $30,000. Finally, SJS Investment Consulting Inc. acquired a new stake in shares of Air Products and Chemicals in the 1st quarter worth about $30,000. 80.62% of the stock is currently owned by institutional investors.

Air Products and Chemicals Company Profile (Get Rating)

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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