Air Products and Chemicals (NYSE:APD) Updates Q3 2024 Earnings Guidance

Air Products and Chemicals (NYSE:APD) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.000-3.050 for the period, compared to the consensus earnings per share estimate of 3.300. The company issued revenue guidance of -. Air Products and Chemicals also updated its FY 2024 guidance to 12.200-12.500 EPS.

Wall Street Analyst Weigh In

A number of research firms have issued reports on APD. Morgan Stanley cut their target price on shares of Air Products and Chemicals from $285.00 to $240.00 and set an equal weight rating for the company in a research report on Wednesday, February 7th. JPMorgan Chase & Co. cut their target price on shares of Air Products and Chemicals from $270.00 to $260.00 and set an overweight rating for the company in a research report on Wednesday. Barclays cut their target price on shares of Air Products and Chemicals from $260.00 to $245.00 and set an equal weight rating for the company in a research report on Tuesday, February 6th. Wells Fargo & Company downgraded shares of Air Products and Chemicals from an overweight rating to an equal weight rating in a research report on Monday, February 5th. Finally, Argus lowered shares of Air Products and Chemicals from a buy rating to a hold rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Air Products and Chemicals currently has a consensus rating of Hold and an average target price of $277.43.

Air Products and Chemicals Stock Performance

APD traded up $3.65 during trading on Thursday, hitting $241.14. The stock had a trading volume of 705,128 shares, compared to its average volume of 1,727,353. The company has a 50 day simple moving average of $237.72 and a 200-day simple moving average of $254.55. Air Products and Chemicals has a 12 month low of $212.24 and a 12 month high of $307.71. The company has a current ratio of 1.49, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market cap of $53.61 billion, a PE ratio of 21.44, a P/E/G ratio of 2.60 and a beta of 0.80.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the firm posted $2.74 EPS. The business’s revenue was down 8.4% compared to the same quarter last year. Analysts expect that Air Products and Chemicals will post 12.38 EPS for the current year.

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.