Air Products & Chemicals, Inc. (NYSE:APD) Expected to Post Quarterly Sales of $2.32 Billion

Wall Street analysts expect Air Products & Chemicals, Inc. (NYSE:APD) to announce $2.32 billion in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Air Products & Chemicals’ earnings. The lowest sales estimate is $2.26 billion and the highest is $2.40 billion. Air Products & Chemicals reported sales of $2.30 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 0.9%. The business is expected to announce its next earnings report before the market opens on Thursday, November 7th.

On average, analysts expect that Air Products & Chemicals will report full year sales of $9.10 billion for the current financial year, with estimates ranging from $8.90 billion to $9.46 billion. For the next fiscal year, analysts expect that the company will report sales of $9.71 billion, with estimates ranging from $9.15 billion to $10.56 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Air Products & Chemicals.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.03. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.32 billion. Air Products & Chemicals had a net margin of 19.14% and a return on equity of 15.42%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.95 earnings per share.

Several equities research analysts have commented on APD shares. Susquehanna Bancshares reiterated a “neutral” rating on shares of Air Products & Chemicals in a research report on Monday, August 19th. Deutsche Bank boosted their price target on shares of Air Products & Chemicals from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. UBS Group cut their price objective on Air Products & Chemicals from $242.00 to $232.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $254.00 target price (up previously from $214.00) on shares of Air Products & Chemicals in a research note on Friday, July 26th. Finally, Morgan Stanley lifted their target price on Air Products & Chemicals from $168.00 to $230.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. Air Products & Chemicals presently has a consensus rating of “Hold” and an average target price of $234.53.

In related news, CEO Seifi Ghasemi bought 20,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was purchased at an average price of $227.16 per share, with a total value of $4,543,200.00. Following the completion of the transaction, the chief executive officer now directly owns 453,783 shares of the company’s stock, valued at $103,081,346.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.35% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of APD. Dorsey Wright & Associates acquired a new position in shares of Air Products & Chemicals during the second quarter worth approximately $1,832,000. Rockland Trust Co. lifted its holdings in shares of Air Products & Chemicals by 27.6% during the second quarter. Rockland Trust Co. now owns 1,508 shares of the basic materials company’s stock worth $341,000 after buying an additional 326 shares during the last quarter. Carroll Financial Associates Inc. lifted its holdings in shares of Air Products & Chemicals by 29.0% during the second quarter. Carroll Financial Associates Inc. now owns 667 shares of the basic materials company’s stock worth $150,000 after buying an additional 150 shares during the last quarter. EFG Asset Management Americas Corp. acquired a new position in shares of Air Products & Chemicals during the second quarter worth approximately $2,907,000. Finally, Strategic Blueprint LLC lifted its holdings in shares of Air Products & Chemicals by 1.8% during the second quarter. Strategic Blueprint LLC now owns 7,142 shares of the basic materials company’s stock worth $1,617,000 after buying an additional 127 shares during the last quarter. Institutional investors own 85.40% of the company’s stock.

Air Products & Chemicals stock traded up $3.09 during midday trading on Friday, hitting $210.06. The company’s stock had a trading volume of 1,182,432 shares, compared to its average volume of 1,087,213. The company has a quick ratio of 2.09, a current ratio of 2.28 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average price is $218.37 and its 200-day moving average price is $216.42. Air Products & Chemicals has a 12 month low of $148.44 and a 12 month high of $232.47. The company has a market capitalization of $45.97 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 1.88 and a beta of 0.85.

Air Products & Chemicals Company Profile

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

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

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