Seaport Res Ptn Comments on Air Products and Chemicals, Inc.’s Q2 2024 Earnings (NYSE:APD)

Air Products and Chemicals, Inc. (NYSE:APD) – Analysts at Seaport Res Ptn reduced their Q2 2024 EPS estimates for shares of Air Products and Chemicals in a research note issued to investors on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will earn $2.73 per share for the quarter, down from their prior forecast of $2.74. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Air Products and Chemicals’ current full-year earnings is $12.38 per share. Seaport Res Ptn also issued estimates for Air Products and Chemicals’ Q3 2024 earnings at $3.29 EPS and FY2024 earnings at $12.25 EPS.

Other analysts have also issued reports about the company. Bank of America raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price objective for the company in a report on Thursday, February 15th. BMO Capital Markets dropped their price target on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. JPMorgan Chase & Co. decreased 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. TheStreet cut shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a report on Monday, February 5th. Finally, Barclays decreased their price target on shares of Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $276.36.

Air Products and Chemicals Price Performance

APD opened at $233.03 on Thursday. The company has a market capitalization of $51.80 billion, a P/E ratio of 22.24, a PEG ratio of 2.50 and a beta of 0.81. The company has a 50-day moving average of $235.64 and a 200-day moving average of $257.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. Air Products and Chemicals has a 1-year low of $212.24 and a 1-year high of $307.71.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Monday, February 5th. The basic materials company reported $2.82 EPS for the quarter, missing the consensus estimate of $3.00 by ($0.18). The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.64 earnings per share.

Institutional Trading of Air Products and Chemicals

Several large investors have recently added to or reduced their stakes in the business. Garner Asset Management Corp acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Air Products and Chemicals during the 4th quarter valued at about $27,000. Roble Belko & Company Inc bought a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $27,000. Sachetta LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter worth approximately $27,000. Finally, Security National Bank bought a new position in shares of Air Products and Chemicals in the fourth quarter valued at approximately $27,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Thursday, March 28th. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 annualized dividend and a dividend yield of 3.04%. Air Products and Chemicals’s payout ratio is currently 67.56%.

About Air Products and Chemicals

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.