Q3 2023 EPS Estimates for Air Products and Chemicals, Inc. Boosted by Analyst (NYSE:APD)

Air Products and Chemicals, Inc. (NYSE:APD – Get Rating) – Equities research analysts at Zacks Research upped their Q3 2023 earnings per share estimates for Air Products and Chemicals in a note issued to investors on Tuesday, May 23rd. Zacks Research analyst A. Barman now forecasts that the basic materials company will earn $2.90 per share for the quarter, up from their previous estimate of $2.87. The consensus estimate for Air Products and Chemicals’ current full-year earnings is $11.39 per share. Zacks Research also issued estimates for Air Products and Chemicals’ FY2023 earnings at $11.38 EPS, Q1 2025 earnings at $3.39 EPS and FY2025 earnings at $13.52 EPS.

Air Products and Chemicals (NYSE:APD – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The basic materials company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.64 by $0.10. Air Products and Chemicals had a return on equity of 16.96% and a net margin of 16.58%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the firm posted $2.38 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year.

Other analysts have also issued research reports about the company. BMO Capital Markets dropped their price objective on Air Products and Chemicals from $386.00 to $360.00 in a research note on Friday, March 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on Air Products and Chemicals from $340.00 to $325.00 in a research note on Friday, May 12th. StockNews.com started coverage on Air Products and Chemicals in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Wells Fargo & Company upped their price objective on Air Products and Chemicals from $280.00 to $307.00 and gave the company an “equal weight” rating in a research note on Friday, February 3rd. Finally, Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating in a research note on Monday, March 13th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $311.63.

Air Products and Chemicals Price Performance

NYSE:APD opened at $270.84 on Thursday. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average price is $282.97 and its two-hundred day moving average price is $294.43. The firm has a market capitalization of $60.16 billion, a price-to-earnings ratio of 27.69, a P/E/G ratio of 2.54 and a beta of 0.84. Air Products and Chemicals has a 12-month low of $218.88 and a 12-month high of $328.56.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 3rd will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, June 30th. Air Products and Chemicals’s dividend payout ratio is presently 71.57%.

Institutional Investors Weigh In On Air Products and Chemicals

A number of large investors have recently modified their holdings of APD. Cibc World Market Inc. boosted its holdings in shares of Air Products and Chemicals by 6.9% during the 1st quarter. Cibc World Market Inc. now owns 1,180 shares of the basic materials company’s stock valued at $295,000 after acquiring an additional 76 shares in the last quarter. Prudential PLC acquired a new stake in shares of Air Products and Chemicals during the 1st quarter valued at $1,010,000. Cetera Investment Advisers boosted its holdings in shares of Air Products and Chemicals by 22.3% during the 1st quarter. Cetera Investment Advisers now owns 5,890 shares of the basic materials company’s stock valued at $1,472,000 after acquiring an additional 1,075 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Air Products and Chemicals by 4.4% during the 1st quarter. Baird Financial Group Inc. now owns 105,875 shares of the basic materials company’s stock valued at $26,459,000 after acquiring an additional 4,470 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Air Products and Chemicals by 17.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $188,000 after acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 82.74% of the company’s stock.

About Air Products and Chemicals

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Air Products & Chemicals, Inc engages in the manufacture and distribution of atmospheric gases. It operates through the following segments: Industrial Gases-Americas, Industrial Gases-EMEA (Europe, Middle East, and Africa), Industrial Gases-Asia, Industrial Gases-Global, and Corporate & Other. The Industrial Gases-America, EMEA, and Asia segment markets and produces atmospheric gases, such as oxygen, nitrogen, argon, and rare gases, process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases and equipment for the production and processing of gases, such as air separation units and non-cryogenic generators.