Air Products and Chemicals (NYSE:APD) Announces Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Air Products and Chemicals (NYSE:APD) posted its quarterly earnings results on Tuesday. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.15, Yahoo Finance reports. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the company earned $2.74 EPS. Air Products and Chemicals’s revenue for the quarter was down 8.4% compared to the same quarter last year.

Air Products and Chemicals Stock Performance

NYSE APD opened at $236.34 on Wednesday. The firm has a market cap of $52.54 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 2.60 and a beta of 0.81. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $237.53 and a 200-day moving average price of $254.67. Air Products and Chemicals has a twelve month low of $212.24 and a twelve month high of $307.71.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on APD. StockNews.com upgraded 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 Air Products and Chemicals in a research report on Friday, March 1st. They issued an “outperform” rating and a $279.00 price objective on the stock. TD Cowen cut their price objective on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Citigroup lifted their price objective on Air Products and Chemicals from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Bank of America upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price objective on the stock in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $276.36.

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.