Air Products and Chemicals (NYSE:APD – Get Free Report) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.00-3.05 for the period, compared to the consensus estimate of $3.29. Air Products and Chemicals also updated its FY 2024 guidance to 12.200-12.500 EPS.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on APD. Seaport Res Ptn cut Air Products and Chemicals from a buy rating to a neutral rating in a research report on Tuesday, February 6th. UBS Group downgraded shares of Air Products and Chemicals from a buy rating to a neutral rating and reduced their target price for the stock from $328.00 to $241.00 in a report on Thursday, February 8th. StockNews.com raised shares of Air Products and Chemicals from a sell rating to a hold rating in a research report on Monday, April 22nd. Wolfe Research initiated coverage on shares of Air Products and Chemicals in a research note on Friday, March 1st. They issued an outperform rating and a $279.00 target price for the company. Finally, Barclays decreased 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 report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals has an average rating of Hold and a consensus target price of $276.36.
Check Out Our Latest Stock Report on APD
Air Products and Chemicals Stock Performance
Air Products and Chemicals (NYSE:APD – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.12. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter last year, the company earned $2.74 EPS. The business’s revenue was down 8.4% on a year-over-year basis. As a group, research analysts anticipate that Air Products and Chemicals will post 12.38 earnings per share for the current fiscal year.
Air Products and Chemicals Company Profile
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.
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