Air Products and Chemicals (NYSE:APD) Issues FY 2024 Earnings Guidance

Air Products and Chemicals (NYSE:APD) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 12.200-12.500 for the period, compared to the consensus earnings per share estimate of 12.310. The company issued revenue guidance of -. Air Products and Chemicals also updated its Q3 2024 guidance to 3.000-3.050 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on APD. JPMorgan Chase & Co. reduced their price objective on Air Products and Chemicals from $295.00 to $270.00 and set an overweight rating for the company in a research note on Tuesday, February 6th. Morgan Stanley dropped their price target on shares of Air Products and Chemicals from $285.00 to $240.00 and set an equal weight rating on the stock in a research report on Wednesday, February 7th. Seaport Res Ptn cut Air Products and Chemicals from a buy rating to a neutral rating in a research report on Tuesday, February 6th. Argus downgraded Air Products and Chemicals from a buy rating to a hold rating in a report on Monday, February 26th. Finally, TheStreet cut Air Products and Chemicals from a b rating to a c+ rating in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $276.36.

Air Products and Chemicals Stock Up 0.9 %

APD stock opened at $238.12 on Tuesday. Air Products and Chemicals has a fifty-two week low of $212.24 and a fifty-two week high of $307.71. The stock has a fifty day moving average of $237.37 and a 200-day moving average of $255.01. The company has a market capitalization of $52.93 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.60 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the prior year, the business earned $2.64 EPS. Air Products and Chemicals’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities research analysts predict that Air Products and Chemicals will post 12.38 earnings per share for the current year.

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.