Air Products and Chemicals (NYSE:APD) Releases FY 2022 Earnings Guidance

Air Products and Chemicals (NYSE:APDGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $10.20-$10.40 for the period, compared to the consensus estimate of $10.28. The company issued revenue guidance of -. Air Products and Chemicals also updated its FY22 guidance to $10.20-$10.40 EPS.

Air Products and Chemicals Price Performance

Shares of APD stock traded up $4.91 on Friday, hitting $262.64. 1,406,358 shares of the stock traded hands, compared to its average volume of 1,108,094. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.87 and a quick ratio of 1.79. The firm has a market cap of $58.25 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.96 and a beta of 0.81. The firm has a 50 day simple moving average of $241.57 and a two-hundred day simple moving average of $244.03. Air Products and Chemicals has a 52 week low of $216.24 and a 52 week high of $316.39.

Air Products and Chemicals (NYSE:APDGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The basic materials company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.61 by $0.01. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.02 billion. Air Products and Chemicals had a return on equity of 15.61% and a net margin of 19.08%. Air Products and Chemicals’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.31 EPS. As a group, equities research analysts predict that Air Products and Chemicals will post 10.25 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 3rd will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Friday, September 30th. Air Products and Chemicals’s payout ratio is 63.16%.

Analyst Ratings Changes

APD has been the subject of a number of research reports. Cowen dropped their target price on shares of Air Products and Chemicals from $345.00 to $305.00 in a report on Tuesday, July 19th. Jefferies Financial Group dropped their target price on shares of Air Products and Chemicals from $270.00 to $257.00 in a report on Thursday, June 16th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Air Products and Chemicals from $275.00 to $290.00 and gave the stock a buy rating in a report on Friday. UBS Group decreased their target price on shares of Air Products and Chemicals from $321.00 to $295.00 in a research report on Wednesday, July 13th. Finally, Bank of America decreased their target price on shares of Air Products and Chemicals from $272.00 to $271.00 and set a neutral rating on the stock in a research report on Wednesday, July 13th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $289.87.

Institutional Investors Weigh In On Air Products and Chemicals

Institutional investors have recently made changes to their positions in the company. EP Wealth Advisors LLC boosted its position in Air Products and Chemicals by 11.2% during the 1st quarter. EP Wealth Advisors LLC now owns 1,900 shares of the basic materials company’s stock worth $475,000 after acquiring an additional 191 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Air Products and Chemicals by 4.5% in the first quarter. The Manufacturers Life Insurance Company now owns 176,715 shares of the basic materials company’s stock valued at $44,163,000 after buying an additional 7,689 shares during the period. Gabelli Funds LLC lifted its holdings in shares of Air Products and Chemicals by 1.9% in the first quarter. Gabelli Funds LLC now owns 22,868 shares of the basic materials company’s stock valued at $5,715,000 after buying an additional 435 shares during the period. Nomura Holdings Inc. lifted its holdings in shares of Air Products and Chemicals by 5.1% during the first quarter. Nomura Holdings Inc. now owns 8,398 shares of the basic materials company’s stock valued at $2,091,000 after purchasing an additional 405 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its holdings in shares of Air Products and Chemicals by 5.7% during the first quarter. Worldquant Millennium Advisors LLC now owns 55,847 shares of the basic materials company’s stock valued at $13,957,000 after purchasing an additional 3,012 shares during the last quarter. 80.62% of the stock is currently owned by institutional investors.

About Air Products and Chemicals

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

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

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