Q3 2024 Earnings Forecast for Air Products and Chemicals, Inc. Issued By Seaport Res Ptn (NYSE:APD)

Air Products and Chemicals, Inc. (NYSE:APD) – Research analysts at Seaport Res Ptn dropped their Q3 2024 EPS estimates for shares of Air Products and Chemicals in a report issued on Monday, May 6th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings per share of $3.04 for the quarter, down from their prior estimate of $3.29. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Air Products and Chemicals’ current full-year earnings is $12.31 per share. Seaport Res Ptn also issued estimates for Air Products and Chemicals’ Q4 2024 earnings at $3.55 EPS and FY2025 earnings at $13.35 EPS.

Air Products and Chemicals (NYSE:APD) last issued 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 return on equity of 16.56% and a net margin of 20.32%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the firm posted $2.74 earnings per share. Air Products and Chemicals’s revenue was down 8.4% on a year-over-year basis.

Other research analysts also recently issued reports about the company. BMO Capital Markets lifted their price objective on Air Products and Chemicals from $250.00 to $263.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. TheStreet downgraded shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a report on Monday, February 5th. Wells Fargo & Company downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday, February 5th. Barclays lowered their price objective on 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. Finally, JPMorgan Chase & Co. decreased their price target on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $277.43.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $248.65 on Wednesday. Air Products and Chemicals has a twelve month low of $212.24 and a twelve month high of $307.71. The company has a market capitalization of $55.28 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 2.66 and a beta of 0.80. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $238.93 and a two-hundred day moving average price of $253.28.

Institutional Trading of Air Products and Chemicals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $27,000. Roble Belko & Company Inc bought a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Sachetta LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at approximately $27,000. Security National Bank bought a new position in Air Products and Chemicals during the fourth quarter worth $27,000. Finally, Thompson Investment Management Inc. bought a new stake in Air Products and Chemicals during the first quarter valued at $27,000. Institutional investors own 81.66% of the company’s stock.

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.