Air Products and Chemicals, Inc. (NYSE:APD) Expected to Earn Q1 2023 Earnings of $2.72 Per Share

Air Products and Chemicals, Inc. (NYSE:APDGet Rating) – Equities research analysts at Seaport Res Ptn raised their Q1 2023 earnings per share estimates for shares of Air Products and Chemicals in a research note issued to investors on Monday, November 7th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings per share of $2.72 for the quarter, up from their prior estimate of $2.70. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Air Products and Chemicals’ current full-year earnings is $11.35 per share. Seaport Res Ptn also issued estimates for Air Products and Chemicals’ Q2 2023 earnings at $2.69 EPS, Q3 2023 earnings at $2.87 EPS, Q4 2023 earnings at $3.06 EPS, FY2023 earnings at $11.34 EPS and FY2024 earnings at $12.51 EPS.

Other equities analysts have also issued reports about the company. Bank of America boosted their price target on Air Products and Chemicals from $281.00 to $308.00 in a research report on Monday. Mizuho boosted their price target on Air Products and Chemicals from $286.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, November 4th. Barclays boosted their price target on Air Products and Chemicals from $275.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Monday, August 8th. Cowen reduced their price target on Air Products and Chemicals from $345.00 to $305.00 in a research report on Tuesday, July 19th. Finally, Cowen reduced their price target on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 19th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $296.44.

Air Products and Chemicals Stock Performance

NYSE APD opened at $280.13 on Wednesday. The firm has a market capitalization of $62.13 billion, a P/E ratio of 27.63, a P/E/G ratio of 1.71 and a beta of 0.79. Air Products and Chemicals has a 1-year low of $216.24 and a 1-year high of $316.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.81 and a quick ratio of 1.66. The business’s 50-day simple moving average is $246.81 and its 200-day simple moving average is $245.46.

Air Products and Chemicals (NYSE:APDGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The basic materials company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.13. The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.23 billion. Air Products and Chemicals had a return on equity of 16.31% and a net margin of 17.77%. The company’s revenue was up 25.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.51 EPS.

Institutional Investors Weigh In On Air Products and Chemicals

A number of institutional investors have recently made changes to their positions in APD. Avantax Advisory Services Inc. boosted its position in Air Products and Chemicals by 28.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,172 shares of the basic materials company’s stock valued at $1,038,000 after purchasing an additional 913 shares during the period. Kornitzer Capital Management Inc. KS boosted its position in Air Products and Chemicals by 2.8% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 18,445 shares of the basic materials company’s stock worth $4,610,000 after acquiring an additional 508 shares during the period. Vestmark Advisory Solutions Inc. boosted its position in Air Products and Chemicals by 16.3% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 10,105 shares of the basic materials company’s stock worth $2,525,000 after acquiring an additional 1,416 shares during the period. Baker Tilly Wealth Management LLC boosted its position in Air Products and Chemicals by 30.0% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 4,522 shares of the basic materials company’s stock worth $1,130,000 after acquiring an additional 1,044 shares during the period. Finally, Howland Capital Management LLC boosted its position in Air Products and Chemicals by 11.3% during the 1st quarter. Howland Capital Management LLC now owns 1,476 shares of the basic materials company’s stock worth $368,000 after acquiring an additional 150 shares during the period. 82.68% of the stock is currently owned by institutional investors.

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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