Brokerages Anticipate Air Products & Chemicals, Inc. (NYSE:APD) Will Announce Quarterly Sales of $2.08 Billion

Equities research analysts expect that Air Products & Chemicals, Inc. (NYSE:APD) will report $2.08 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Air Products & Chemicals’ earnings. The lowest sales estimate is $2.00 billion and the highest is $2.17 billion. Air Products & Chemicals posted sales of $2.22 billion during the same quarter last year, which suggests a negative year over year growth rate of 6.3%. The company is expected to announce its next earnings report before the market opens on Thursday, July 23rd.

According to Zacks, analysts expect that Air Products & Chemicals will report full year sales of $8.86 billion for the current fiscal year, with estimates ranging from $8.66 billion to $9.02 billion. For the next year, analysts forecast that the company will post sales of $9.37 billion, with estimates ranging from $8.96 billion to $9.64 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Air Products & Chemicals.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.06 by ($0.02). The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Air Products & Chemicals had a return on equity of 16.36% and a net margin of 21.66%. Air Products & Chemicals’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.00 earnings per share.

A number of equities research analysts have recently issued reports on APD shares. BMO Capital Markets dropped their price target on Air Products & Chemicals from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, March 26th. Zacks Investment Research cut Air Products & Chemicals from a “hold” rating to a “sell” rating and set a $230.00 price objective on the stock. in a report on Monday, April 27th. JPMorgan Chase & Co. upped their price objective on Air Products & Chemicals from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Friday, April 24th. HSBC cut Air Products & Chemicals from a “buy” rating to a “hold” rating and set a $225.00 price objective on the stock. in a report on Tuesday, June 16th. They noted that the move was a valuation call. Finally, UBS Group decreased their price target on Air Products & Chemicals from $238.00 to $205.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $246.78.

Shares of APD stock traded up $3.67 during trading hours on Friday, reaching $247.42. The company had a trading volume of 1,332,896 shares, compared to its average volume of 1,293,201. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.37 and a current ratio of 2.59. The stock has a fifty day moving average of $238.06 and a 200-day moving average of $229.21. The company has a market capitalization of $53.33 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 3.21 and a beta of 0.85. Air Products & Chemicals has a 12-month low of $167.43 and a 12-month high of $257.01.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Wednesday, July 1st will be given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, June 30th. Air Products & Chemicals’s dividend payout ratio is currently 65.29%.

A number of large investors have recently bought and sold shares of APD. Victory Capital Management Inc. increased its holdings in Air Products & Chemicals by 1.5% in the fourth quarter. Victory Capital Management Inc. now owns 347,386 shares of the basic materials company’s stock valued at $81,632,000 after buying an additional 5,290 shares during the last quarter. National Asset Management Inc. increased its holdings in Air Products & Chemicals by 39.7% in the fourth quarter. National Asset Management Inc. now owns 4,881 shares of the basic materials company’s stock valued at $1,147,000 after buying an additional 1,386 shares during the last quarter. Busey Wealth Management purchased a new position in Air Products & Chemicals in the fourth quarter valued at $380,000. Evermay Wealth Management LLC increased its holdings in Air Products & Chemicals by 17.7% in the fourth quarter. Evermay Wealth Management LLC now owns 1,726 shares of the basic materials company’s stock valued at $406,000 after buying an additional 260 shares during the last quarter. Finally, Mutual Advisors LLC increased its holdings in Air Products & Chemicals by 65.8% in the fourth quarter. Mutual Advisors LLC now owns 1,671 shares of the basic materials company’s stock valued at $393,000 after buying an additional 663 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

About Air Products & Chemicals

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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