Air Products and Chemicals, Inc. (APD) Releases Earnings Results, Beats Expectations By $0.06 EPS

Air Products and Chemicals, Inc. (NYSE:APD) issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.06, Bloomberg Earnings reports. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter last year, the company posted $1.92 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. Air Products and Chemicals updated its Q4 guidance to $1.65-1.70 EPS and its FY17 guidance to $6.20-6.25 EPS.

Shares of Air Products and Chemicals (NYSE APD) opened at 145.76 on Friday. Air Products and Chemicals has a 52 week low of $129.00 and a 52 week high of $150.45. The firm has a market capitalization of $31.77 billion, a price-to-earnings ratio of 10.95 and a beta of 1.25. The company’s 50-day moving average is $145.17 and its 200 day moving average is $141.94.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 10th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $3.80 annualized dividend and a yield of 2.61%. Air Products and Chemicals’s dividend payout ratio is currently 28.51%.

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Several hedge funds have recently modified their holdings of APD. iAB Financial Bank acquired a new stake in shares of Air Products and Chemicals during the first quarter worth $100,000. Patten Group Inc. boosted its stake in shares of Air Products and Chemicals by 3.7% in the first quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock worth $105,000 after buying an additional 28 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Air Products and Chemicals during the first quarter worth $109,000. Guardian Life Insurance Co. of America boosted its stake in shares of Air Products and Chemicals by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock worth $113,000 after buying an additional 6 shares during the period. Finally, Webster Bank N. A. boosted its stake in shares of Air Products and Chemicals by 68.2% in the first quarter. Webster Bank N. A. now owns 851 shares of the basic materials company’s stock worth $115,000 after buying an additional 345 shares during the period. 88.75% of the stock is currently owned by institutional investors.

APD has been the topic of a number of analyst reports. Deutsche Bank AG upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price objective for the company from $148.00 to $160.00 in a report on Monday, May 1st. Zacks Investment Research lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, May 1st. BidaskClub lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Jefferies Group LLC restated a “hold” rating and issued a $155.00 price objective on shares of Air Products and Chemicals in a report on Tuesday, May 2nd. Finally, Credit Suisse Group restated an “outperform” rating and issued a $158.00 price objective (up from $153.00) on shares of Air Products and Chemicals in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $152.77.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

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

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