Zacks: Brokerages Anticipate Air Products & Chemicals, Inc. (NYSE:APD) Will Post Quarterly Sales of $2.08 Billion

Equities research analysts expect that Air Products & Chemicals, Inc. (NYSE:APD) will post $2.08 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Air Products & Chemicals’ earnings. The lowest sales estimate is $2.00 billion and the highest is $2.17 billion. Air Products & Chemicals reported sales of $2.22 billion in the same quarter last year, which indicates a negative year over year growth rate of 6.3%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, July 23rd.

According to Zacks, analysts expect that Air Products & Chemicals will report full year sales of $8.86 billion for the current financial year, with estimates ranging from $8.66 billion to $9.02 billion. For the next fiscal year, analysts expect that the business will report sales of $9.37 billion, with estimates ranging from $8.96 billion to $9.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Air Products & Chemicals.

Air Products & Chemicals (NYSE:APD) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.02). The company 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 quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.00 EPS.

Several brokerages have recently commented on APD. Sanford C. Bernstein raised Air Products & Chemicals from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $246.00 to $262.00 in a report on Wednesday, April 15th. JPMorgan Chase & Co. boosted their price objective on Air Products & Chemicals from $237.00 to $242.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Wells Fargo & Co lowered their price objective on Air Products & Chemicals from $265.00 to $260.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Argus reiterated a “buy” rating and issued a $234.00 price objective (down previously from $276.00) on shares of Air Products & Chemicals in a research report on Wednesday, March 25th. Finally, Atlantic Securities upgraded Air Products & Chemicals to a “buy” rating in a research report on Monday, March 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $246.78.

APD stock traded down $0.49 during mid-day trading on Friday, reaching $238.12. 295,122 shares of the company traded hands, compared to its average volume of 943,244. Air Products & Chemicals has a 52-week low of $167.43 and a 52-week high of $257.01. 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 company has a market capitalization of $52.37 billion, a P/E ratio of 27.27, a P/E/G ratio of 3.14 and a beta of 0.87. The company has a fifty day moving average price of $237.51 and a 200-day moving average price of $229.05.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Wednesday, July 1st will be issued a $1.34 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $5.36 dividend on an annualized basis and a yield of 2.25%. Air Products & Chemicals’s dividend payout ratio (DPR) is 65.29%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Quarterback LLC purchased a new stake in shares of Air Products & Chemicals in the fourth quarter worth $915,811,000. JPMorgan Chase & Co. raised its stake in Air Products & Chemicals by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 6,081,946 shares of the basic materials company’s stock valued at $1,214,015,000 after purchasing an additional 29,037 shares during the period. Capital International Investors raised its stake in Air Products & Chemicals by 3.6% during the 1st quarter. Capital International Investors now owns 5,491,295 shares of the basic materials company’s stock valued at $1,096,117,000 after purchasing an additional 188,508 shares during the period. Franklin Resources Inc. raised its stake in Air Products & Chemicals by 14.6% during the 1st quarter. Franklin Resources Inc. now owns 5,029,995 shares of the basic materials company’s stock valued at $1,004,036,000 after purchasing an additional 641,003 shares during the period. Finally, Capital World Investors raised its stake in Air Products & Chemicals by 36.8% during the 1st quarter. Capital World Investors now owns 3,495,798 shares of the basic materials company’s stock valued at $697,796,000 after purchasing an additional 941,066 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

About Air Products & Chemicals

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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Earnings History and Estimates for Air Products & Chemicals (NYSE:APD)

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