Air Products and Chemicals (NYSE:APD) Updates FY24 Earnings Guidance

Air Products and Chemicals (NYSE:APD) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $12.20-12.50 for the period, compared to the consensus earnings per share estimate of $12.35. Air Products and Chemicals also updated its FY 2024 guidance to 12.200-12.500 EPS.

Air Products and Chemicals Stock Up 0.9 %

Shares of Air Products and Chemicals stock traded up $2.18 on Friday, reaching $245.87. 1,474,749 shares of the company were exchanged, compared to its average volume of 1,738,766. Air Products and Chemicals has a 1-year low of $212.24 and a 1-year high of $307.71. The company has a market cap of $54.66 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 2.62 and a beta of 0.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.58. The stock’s 50 day moving average price is $237.96 and its 200-day moving average price is $254.47.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the company posted $2.74 earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities analysts forecast that Air Products and Chemicals will post 12.34 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on APD shares. Wells Fargo & Company downgraded Air Products and Chemicals from an overweight rating to an equal weight rating in a research report on Monday, February 5th. Morgan Stanley lowered their price target on Air Products and Chemicals from $285.00 to $240.00 and set an equal weight rating for the company in a report on Wednesday, February 7th. Argus downgraded Air Products and Chemicals from a buy rating to a hold rating in a report on Monday, February 26th. Citigroup lowered their price target on Air Products and Chemicals from $285.00 to $280.00 and set a buy rating for the company in a report on Wednesday. Finally, Bank of America raised their price objective on Air Products and Chemicals from $272.00 to $275.00 and gave the stock a buy rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals currently has a consensus rating of Hold and a consensus target price of $277.43.

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.