Q2 2024 EPS Estimates for Air Products and Chemicals, Inc. (NYSE:APD) Lowered by Analyst

Air Products and Chemicals, Inc. (NYSE:APD - Free Report) - Seaport Res Ptn reduced their Q2 2024 earnings per share (EPS) estimates for Air Products and Chemicals in a research note issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will earn $2.73 per share for the quarter, down from their previous estimate of $2.74. Seaport Res Ptn currently 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.

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

APD has been the subject of several other research reports. TheStreet cut Air Products and Chemicals from a "b" rating to a "c+" rating in a research note on Monday, February 5th. TD Cowen decreased their target price on Air Products and Chemicals from $345.00 to $305.00 and set an "outperform" rating for the company in a research note on Friday, February 16th. StockNews.com cut Air Products and Chemicals from a "hold" rating to a "sell" rating in a research note on Sunday. BMO Capital Markets decreased their target price on Air Products and Chemicals from $307.00 to $250.00 and set an "outperform" rating for the company in a research note on Tuesday, February 6th. Finally, Barclays decreased their target price on Air Products and Chemicals from $260.00 to $245.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Air Products and Chemicals presently has an average rating of "Hold" and an average price target of $276.36.

Air Products and Chemicals Price Performance

APD stock traded up $4.02 during trading hours on Thursday, hitting $233.03. 1,302,043 shares of the stock traded hands, compared to its average volume of 1,746,447. The stock has a 50-day simple moving average of $235.64 and a 200 day simple moving average of $257.80. Air Products and Chemicals has a one year low of $212.24 and a one year high of $307.71. The company has a market cap of $51.80 billion, a P/E ratio of 22.24, a P/E/G ratio of 2.50 and a beta of 0.81. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74.

Institutional Investors Weigh In On Air Products and Chemicals

Several hedge funds have recently bought and sold shares of APD. Cape Cod Five Cents Savings Bank purchased a new stake in shares of Air Products and Chemicals during the 3rd quarter worth about $376,000. BKM Wealth Management LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $1,177,000. Bellwether Advisors LLC purchased a new stake in shares of Air Products and Chemicals during the 3rd quarter worth about $501,000. Zenyatta Capital Management LP raised its stake in shares of Air Products and Chemicals by 46.7% during the 4th quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company's stock worth $6,024,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Bristol John W & Co. Inc. NY raised its stake in shares of Air Products and Chemicals by 37.6% during the 4th quarter. Bristol John W & Co. Inc. NY now owns 388,474 shares of the basic materials company's stock worth $106,364,000 after purchasing an additional 106,054 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be paid a $1.77 dividend. 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 yield of 3.04%. The ex-dividend date of this dividend is Thursday, March 28th. Air Products and Chemicals's dividend payout ratio is currently 67.56%.

Air Products and Chemicals Company Profile

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.