Air Products and Chemicals (NYSE:APD – Get Free Report) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $3.00-3.05 for the period, compared to the consensus earnings per share estimate of $3.29. Air Products and Chemicals also updated its FY 2024 guidance to 12.200-12.500 EPS.
Analysts Set New Price Targets
APD has been the topic of several research analyst reports. Argus downgraded Air Products and Chemicals from a buy rating to a hold rating in a research report on Monday, February 26th. Citigroup increased their price target 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. StockNews.com raised Air Products and Chemicals from a sell rating to a hold rating in a research report on Monday, April 22nd. TheStreet downgraded Air Products and Chemicals from a b rating to a c+ rating in a research note on Monday, February 5th. Finally, Barclays cut their target price on Air Products and Chemicals from $260.00 to $245.00 and set an equal weight rating on the stock in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $276.36.
View Our Latest Stock Analysis on Air Products and Chemicals
Air Products and Chemicals Stock Down 3.6 %
Air Products and Chemicals (NYSE:APD – Get Free Report) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.12. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the firm earned $2.74 EPS. The business’s revenue was down 8.4% on a year-over-year basis. Sell-side analysts expect that Air Products and Chemicals will post 12.38 EPS for the current year.
Air Products and Chemicals Company Profile
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.
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