Wall Street analysts expect that Air Products & Chemicals (NYSE:APD) will report $2.19 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Air Products & Chemicals’ earnings. The lowest sales estimate is $2.16 billion and the highest is $2.26 billion. Air Products & Chemicals posted sales of $1.98 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.6%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that Air Products & Chemicals will report full year sales of $8.99 billion for the current year, with estimates ranging from $8.72 billion to $9.23 billion. For the next fiscal year, analysts expect that the company will report sales of $9.51 billion per share, with estimates ranging from $9.19 billion to $9.83 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Air Products & Chemicals.
Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Friday, January 26th. The basic materials company reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.13. Air Products & Chemicals had a return on equity of 14.80% and a net margin of 33.51%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period last year, the business earned $1.47 EPS. The business’s quarterly revenue was up 17.7% on a year-over-year basis.
A number of equities research analysts have recently weighed in on the company. Credit Suisse Group set a $181.00 price target on Air Products & Chemicals and gave the stock a “buy” rating in a research note on Monday, January 29th. Citigroup cut their price target on Air Products & Chemicals from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, April 10th. Monness Crespi & Hardt raised their price target on Air Products & Chemicals from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Zacks Investment Research downgraded Air Products & Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. Finally, KeyCorp raised their price target on Air Products & Chemicals from $175.00 to $184.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the company’s stock. Air Products & Chemicals currently has an average rating of “Buy” and a consensus price target of $178.65.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in Air Products & Chemicals by 5.8% in the 4th quarter. BlackRock Inc. now owns 17,544,664 shares of the basic materials company’s stock worth $2,878,729,000 after buying an additional 964,497 shares during the period. Bank of New York Mellon Corp increased its position in Air Products & Chemicals by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,267,085 shares of the basic materials company’s stock worth $536,065,000 after buying an additional 8,541 shares during the period. Geode Capital Management LLC increased its position in Air Products & Chemicals by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 2,152,307 shares of the basic materials company’s stock worth $352,351,000 after buying an additional 47,084 shares during the period. Neuberger Berman Group LLC increased its position in Air Products & Chemicals by 17.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,826,205 shares of the basic materials company’s stock worth $276,159,000 after buying an additional 268,978 shares during the period. Finally, Fred Alger Management Inc. grew its holdings in shares of Air Products & Chemicals by 18.0% during the 4th quarter. Fred Alger Management Inc. now owns 1,581,149 shares of the basic materials company’s stock worth $259,435,000 after purchasing an additional 241,695 shares in the last quarter. 87.70% of the stock is currently owned by institutional investors.
Shares of APD traded down $0.07 during midday trading on Tuesday, reaching $162.97. 570,299 shares of the stock were exchanged, compared to its average volume of 954,487. Air Products & Chemicals has a 12-month low of $134.42 and a 12-month high of $175.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.92 and a quick ratio of 2.73. The company has a market capitalization of $35,695.86, a PE ratio of 25.83, a price-to-earnings-growth ratio of 1.37 and a beta of 1.22.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 14th. Shareholders of record on Monday, April 2nd will be given a $1.10 dividend. This is an increase from Air Products & Chemicals’s previous quarterly dividend of $0.95. This represents a $4.40 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, March 29th. Air Products & Chemicals’s payout ratio is currently 69.73%.
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About Air Products & Chemicals
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, 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 metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.
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