Air Products and Chemicals (NYSE:APD) Issues Q4 2022 Earnings Guidance

Air Products and Chemicals (NYSE:APDGet Rating) issued an update on its fourth quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.68-$2.88 for the period, compared to the consensus estimate of $2.75. The company issued revenue guidance of -. Air Products and Chemicals also updated its FY 2022 guidance to $10.20-$10.40 EPS.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Mizuho lowered their target price on shares of Air Products and Chemicals from $312.00 to $286.00 and set a buy rating for the company in a report on Thursday, July 7th. Atlantic Securities upgraded shares of Air Products and Chemicals from a neutral rating to an overweight rating and lifted their target price for the company from $280.00 to $290.00 in a research note on Wednesday, May 25th. Credit Suisse Group decreased their price target on shares of Air Products and Chemicals from $302.00 to $290.00 and set an outperform rating on the stock in a research note on Friday, May 20th. Cowen cut their price target on shares of Air Products and Chemicals from $345.00 to $305.00 and set an outperform rating on the stock in a report on Tuesday, July 19th. Finally, Bank of America dropped their target price on shares of Air Products and Chemicals from $272.00 to $271.00 and set a neutral rating on the stock in a research note on Wednesday, July 13th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $289.87.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock traded up $4.91 on Friday, reaching $262.64. 1,406,358 shares of the stock were exchanged, compared to its average volume of 1,108,094. The company has a current ratio of 1.87, a quick ratio of 1.79 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average price of $241.57 and a two-hundred day moving average price of $244.03. The firm has a market capitalization of $58.25 billion, a PE ratio of 25.60, a PEG ratio of 1.96 and a beta of 0.81. Air Products and Chemicals has a 1-year low of $216.24 and a 1-year high of $316.39.

Air Products and Chemicals (NYSE:APDGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The basic materials company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.61 by $0.01. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Air Products and Chemicals had a net margin of 19.08% and a return on equity of 15.61%. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.31 earnings per share. As a group, research analysts anticipate that Air Products and Chemicals will post 10.25 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 3rd will be issued a $1.62 dividend. The ex-dividend date is Friday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 2.47%. Air Products and Chemicals’s payout ratio is 63.16%.

Institutional Investors Weigh In On Air Products and Chemicals

Institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC lifted its position in shares of Air Products and Chemicals by 47.8% during the first quarter. Lazard Asset Management LLC now owns 445 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 144 shares in the last quarter. Covestor Ltd increased its stake in Air Products and Chemicals by 85.6% during the first quarter. Covestor Ltd now owns 579 shares of the basic materials company’s stock valued at $145,000 after purchasing an additional 267 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Air Products and Chemicals by 17.1% during the first quarter. Parkside Financial Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 110 shares during the last quarter. qPULA Trading Management LP bought a new stake in Air Products and Chemicals during the first quarter valued at $208,000. Finally, Frontier Wealth Management LLC grew its position in shares of Air Products and Chemicals by 13.2% during the first quarter. Frontier Wealth Management LLC now owns 858 shares of the basic materials company’s stock worth $213,000 after acquiring an additional 100 shares during the last quarter. 80.62% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Company Profile

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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; 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 refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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Earnings History and Estimates for Air Products and Chemicals (NYSE:APD)

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