Q3 2023 EPS Estimates for Air Products and Chemicals, Inc. (NYSE:APD) Cut by Seaport Res Ptn

Air Products and Chemicals, Inc. (NYSE:APDGet Rating) – Analysts at Seaport Res Ptn dropped their Q3 2023 earnings per share estimates for Air Products and Chemicals in a research note issued to investors on Wednesday, September 14th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings per share of $2.87 for the quarter, down from their prior estimate of $2.92. The consensus estimate for Air Products and Chemicals’ current full-year earnings is $10.29 per share. Seaport Res Ptn also issued estimates for Air Products and Chemicals’ FY2024 earnings at $12.54 EPS.

Several other research analysts have also recently issued reports on APD. Credit Suisse Group reduced their price objective on Air Products and Chemicals from $302.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, May 20th. Cowen dropped their target price on Air Products and Chemicals from $345.00 to $305.00 in a report on Tuesday, July 19th. Wells Fargo & Company dropped their target price on Air Products and Chemicals from $255.00 to $243.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. BMO Capital Markets raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $283.00 to $321.00 in a report on Monday, August 15th. Finally, Atlantic Securities raised Air Products and Chemicals from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $280.00 to $290.00 in a report on Wednesday, May 25th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.56.

Air Products and Chemicals Trading Down 0.4 %

Shares of NYSE:APD opened at $247.36 on Friday. Air Products and Chemicals has a 52-week low of $216.24 and a 52-week high of $316.39. The stock has a market cap of $54.86 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 1.74 and a beta of 0.79. The company has a quick ratio of 1.72, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $250.28 and a 200-day moving average price of $243.87.

Air Products and Chemicals (NYSE:APDGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.01. Air Products and Chemicals had a return on equity of 15.61% and a net margin of 19.08%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the business posted $2.31 earnings per share. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year.

Institutional Investors Weigh In On Air Products and Chemicals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APD. Acadian Asset Management LLC raised its position in Air Products and Chemicals by 230.9% in the fourth quarter. Acadian Asset Management LLC now owns 1,413 shares of the basic materials company’s stock valued at $427,000 after purchasing an additional 986 shares during the period. Rafferty Asset Management LLC raised its position in Air Products and Chemicals by 11.2% in the fourth quarter. Rafferty Asset Management LLC now owns 5,891 shares of the basic materials company’s stock valued at $1,792,000 after purchasing an additional 594 shares during the period. Exencial Wealth Advisors LLC purchased a new stake in Air Products and Chemicals in the fourth quarter valued at $206,000. Nwam LLC raised its position in Air Products and Chemicals by 5.7% in the fourth quarter. Nwam LLC now owns 1,130 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 61 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Air Products and Chemicals by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,031 shares of the basic materials company’s stock valued at $310,659,000 after purchasing an additional 29,259 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 3rd will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 2.62%. Air Products and Chemicals’s payout ratio is 63.16%.

Air Products and Chemicals Company Profile

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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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Earnings History and Estimates for Air Products and Chemicals (NYSE:APD)

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