Brokerages expect that Air Products & Chemicals, Inc. (NYSE:APD) will announce $2.08 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Air Products & Chemicals’ earnings. The lowest sales estimate is $2.00 billion and the highest is $2.17 billion. Air Products & Chemicals posted sales of $2.22 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.3%. The business is scheduled to report its next earnings results before the market opens on Thursday, July 23rd.
On average, analysts expect that Air Products & Chemicals will report full year sales of $8.86 billion for the current fiscal year, with estimates ranging from $8.66 billion to $9.02 billion. For the next financial year, analysts forecast that the firm will report sales of $9.37 billion, with estimates ranging from $8.96 billion to $9.64 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Air Products & Chemicals.
Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.06 by ($0.02). The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Air Products & Chemicals had a net margin of 21.66% and a return on equity of 16.36%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.00 EPS.
Several analysts have weighed in on APD shares. Morgan Stanley dropped their price target on Air Products & Chemicals from $280.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, March 30th. Argus reiterated a “buy” rating and set a $234.00 price target (down previously from $276.00) on shares of Air Products & Chemicals in a research note on Wednesday, March 25th. Atlantic Securities upgraded Air Products & Chemicals to a “buy” rating in a research note on Monday, March 16th. BMO Capital Markets dropped their price target on Air Products & Chemicals from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, March 26th. Finally, HSBC downgraded Air Products & Chemicals from a “buy” rating to a “hold” rating and set a $225.00 price target on the stock. in a research note on Tuesday, June 16th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $246.78.
Hedge funds have recently bought and sold shares of the company. Wealth Quarterback LLC purchased a new position in Air Products & Chemicals in the fourth quarter worth approximately $915,811,000. Capital World Investors grew its position in Air Products & Chemicals by 36.8% in the first quarter. Capital World Investors now owns 3,495,798 shares of the basic materials company’s stock worth $697,796,000 after acquiring an additional 941,066 shares during the period. London Co. of Virginia boosted its position in shares of Air Products & Chemicals by 384.8% during the first quarter. London Co. of Virginia now owns 1,060,963 shares of the basic materials company’s stock worth $211,778,000 after buying an additional 842,095 shares during the period. Franklin Resources Inc. boosted its position in shares of Air Products & Chemicals by 14.6% during the first quarter. Franklin Resources Inc. now owns 5,029,995 shares of the basic materials company’s stock worth $1,004,036,000 after buying an additional 641,003 shares during the period. Finally, Norges Bank purchased a new position in shares of Air Products & Chemicals during the fourth quarter worth $125,937,000. Institutional investors and hedge funds own 83.66% of the company’s stock.
Air Products & Chemicals stock traded down $0.49 during trading hours on Friday, hitting $238.12. 295,122 shares of the stock traded hands, compared to its average volume of 943,244. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 2.37. The firm’s 50 day moving average price is $237.51 and its 200-day moving average price is $229.05. The stock has a market capitalization of $52.37 billion, a price-to-earnings ratio of 27.27, a P/E/G ratio of 3.14 and a beta of 0.87. Air Products & Chemicals has a 1 year low of $167.43 and a 1 year high of $257.01.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Wednesday, July 1st will be given a $1.34 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 2.25%. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 65.29%.
Air Products & Chemicals Company Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including 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 or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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