Air Products and Chemicals (NYSE:APD) Issues 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 Down 3.6 %

Shares of NYSE:APD traded down $8.65 during midday trading on Tuesday, reaching $229.47. 350,775 shares of the company were exchanged, compared to its average volume of 1,698,848. 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 stock has a fifty day simple moving average of $237.37 and a two-hundred day simple moving average of $255.01. Air Products and Chemicals has a fifty-two week low of $212.24 and a fifty-two week high of $307.71. The firm has a market cap of $51.01 billion, a PE ratio of 22.72, a P/E/G ratio of 2.60 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results 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. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. Air Products and Chemicals’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.74 EPS. As a group, sell-side analysts forecast that Air Products and Chemicals will post 12.38 earnings per share for the current year.

Analyst Ratings Changes

APD has been the subject of a number of analyst reports. Mizuho dropped their price objective on Air Products and Chemicals from $304.00 to $295.00 and set a buy rating for the company in a research note on Tuesday, February 6th. 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. JPMorgan Chase & Co. cut their target price on Air Products and Chemicals from $295.00 to $270.00 and set an overweight rating on the stock in a research note on Tuesday, February 6th. Barclays reduced their target price 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. Finally, TheStreet lowered shares of Air Products and Chemicals from a b rating to a c+ rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals presently has a consensus rating of Hold and an average 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.