Air Products and Chemicals Inc. (NYSE:APD) – Analysts at Seaport Global Securities reduced their Q1 2017 earnings estimates for Air Products and Chemicals in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Harrison now expects that the brokerage will earn $1.58 per share for the quarter, down from their prior estimate of $2.02. Seaport Global Securities currently has a “Buy” rating and a $165.00 target price on the stock. Seaport Global Securities also issued estimates for Air Products and Chemicals’ Q2 2017 earnings at $1.60 EPS, Q3 2017 earnings at $1.64 EPS, Q4 2017 earnings at $1.70 EPS and FY2017 earnings at $6.52 EPS.
Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.02. Air Products and Chemicals had a return on equity of 22.00% and a net margin of 6.12%. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company posted $1.65 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis.
APD has been the topic of a number of other reports. Zacks Investment Research upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, July 11th. Citigroup Inc. restated a “hold” rating on shares of Air Products and Chemicals in a research report on Sunday, July 17th. Jefferies Group restated a “hold” rating and set a $155.00 price objective on shares of Air Products and Chemicals in a research report on Friday, July 29th. Atlantic Securities upgraded Air Products and Chemicals from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $125.00 to $135.00 in a research report on Friday, September 30th. Finally, Credit Suisse Group AG set a $163.00 price objective on Air Products and Chemicals and gave the company a “buy” rating in a research report on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Air Products and Chemicals currently has an average rating of “Hold” and an average price target of $151.43.
Shares of Air Products and Chemicals (NYSE:APD) opened at 132.65 on Friday. Air Products and Chemicals has a 52-week low of $106.05 and a 52-week high of $146.01. The company has a market capitalization of $28.73 billion, a price-to-earnings ratio of 49.63 and a beta of 1.23. The company’s 50 day moving average price is $138.60 and its 200 day moving average price is $135.83.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 3rd will be paid a $0.86 dividend. The ex-dividend date is Thursday, October 6th. This represents a $3.44 annualized dividend and a yield of 2.59%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 128.84%.
In related news, insider Russell A. Flugel sold 2,050 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $151.54, for a total value of $310,657.00. Following the transaction, the insider now owns 3,131 shares of the company’s stock, valued at $474,471.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Guillermo Novo sold 7,997 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $149.58, for a total value of $1,196,191.26. Following the completion of the transaction, the vice president now directly owns 23,590 shares in the company, valued at approximately $3,528,592.20. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Liberty Capital Management Inc. bought a new stake in shares of Air Products and Chemicals during the third quarter valued at about $100,000. Parkside Financial Bank & Trust boosted its stake in shares of Air Products and Chemicals by 8.9% in the second quarter. Parkside Financial Bank & Trust now owns 793 shares of the company’s stock valued at $113,000 after buying an additional 65 shares during the period. Cantab Capital Partners LLP bought a new stake in shares of Air Products and Chemicals during the second quarter valued at about $113,000. M&R Capital Management Inc. bought a new stake in shares of Air Products and Chemicals during the second quarter valued at about $149,000. Finally, Sii Investments Inc. WI bought a new stake in shares of Air Products and Chemicals during the second quarter valued at about $217,000. 88.50% of the stock is currently owned by institutional investors and hedge funds.
About Air Products and Chemicals
Air Products and Chemicals, Inc is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company operates through seven segments: Industrial Gases-Americas, Industrial Gases-Europe, Middle East, and Africa (EMEA), Industrial Gases-Asia, Industrial Gases-Global, Materials Technologies, Energy-from-Waste, and Corporate and other.
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