Analysts Anticipate Air Products & Chemicals, Inc. (NYSE:APD) Will Announce Quarterly Sales of $2.24 Billion

Wall Street analysts forecast that Air Products & Chemicals, Inc. (NYSE:APD) will announce $2.24 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Air Products & Chemicals’ earnings, with the lowest sales estimate coming in at $2.21 billion and the highest estimate coming in at $2.28 billion. Air Products & Chemicals reported sales of $2.22 billion during the same quarter last year, which would suggest a positive year over year growth rate of 0.9%. The company is scheduled to announce its next quarterly earnings results before the market opens on Friday, January 24th.

According to Zacks, analysts expect that Air Products & Chemicals will report full-year sales of $9.44 billion for the current financial year, with estimates ranging from $9.13 billion to $9.85 billion. For the next fiscal year, analysts anticipate that the company will post sales of $10.22 billion, with estimates ranging from $9.54 billion to $11.85 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Air Products & Chemicals.

Air Products & Chemicals (NYSE:APD) last released its quarterly earnings data on Friday, January 24th. The basic materials company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.06. Air Products & Chemicals had a net margin of 19.73% and a return on equity of 15.88%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. Air Products & Chemicals’s revenue for the quarter was up 1.4% on a year-over-year basis.

A number of research analysts have commented on the stock. UBS Group reduced their price objective on shares of Air Products & Chemicals from $232.00 to $230.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Wells Fargo & Co started coverage on shares of Air Products & Chemicals in a report on Tuesday, October 15th. They set a “market perform” rating and a $240.00 target price on the stock. Atlantic Securities started coverage on shares of Air Products & Chemicals in a report on Monday, November 18th. They issued a “neutral” rating and a $250.00 price objective on the stock. Deutsche Bank increased their price objective on shares of Air Products & Chemicals from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, November 8th. They noted that the move was a valuation call. Finally, Barclays increased their price objective on shares of Air Products & Chemicals from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $240.76.

Several institutional investors have recently added to or reduced their stakes in APD. Arjuna Capital raised its holdings in shares of Air Products & Chemicals by 1.1% in the second quarter. Arjuna Capital now owns 8,930 shares of the basic materials company’s stock valued at $2,021,000 after buying an additional 97 shares during the last quarter. Assetmark Inc. grew its position in shares of Air Products & Chemicals by 163.0% in the 2nd quarter. Assetmark Inc. now owns 142 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 88 shares during the period. AQR Capital Management LLC grew its position in shares of Air Products & Chemicals by 21.3% in the 2nd quarter. AQR Capital Management LLC now owns 337,324 shares of the basic materials company’s stock valued at $76,360,000 after purchasing an additional 59,226 shares during the period. Marshall Wace LLP grew its position in shares of Air Products & Chemicals by 1.7% in the 2nd quarter. Marshall Wace LLP now owns 16,100 shares of the basic materials company’s stock valued at $3,645,000 after purchasing an additional 275 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of Air Products & Chemicals by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 353,927 shares of the basic materials company’s stock valued at $80,118,000 after purchasing an additional 2,724 shares during the period. 83.60% of the stock is owned by institutional investors and hedge funds.

Shares of APD stock traded up $6.66 on Friday, hitting $243.95. The stock had a trading volume of 1,763,452 shares, compared to its average volume of 1,293,200. The firm has a market capitalization of $52.48 billion, a price-to-earnings ratio of 30.72, a P/E/G ratio of 2.04 and a beta of 0.85. The stock’s 50 day moving average is $233.45 and its 200-day moving average is $226.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.32 and a current ratio of 2.54. Air Products & Chemicals has a 52-week low of $158.00 and a 52-week high of $244.61.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $1.34 per share. The ex-dividend date is Tuesday, March 31st. This is a boost from Air Products & Chemicals’s previous quarterly dividend of $1.16. This represents a $5.36 dividend on an annualized basis and a dividend yield of 2.20%. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 56.52%.

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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