Air Products & Chemicals (NYSE:APD) announced its earnings results on Wednesday. The basic materials company reported $1.92 EPS for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.04, MarketWatch Earnings reports. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Air Products & Chemicals had a return on equity of 15.13% and a net margin of 18.92%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.71 EPS. Air Products & Chemicals updated its Q3 2019 guidance to $2.10-2.15 EPS and its FY 2019 guidance to $8.15-8.30 EPS.
Shares of APD stock traded down $1.68 during mid-day trading on Thursday, hitting $197.74. The stock had a trading volume of 5,795 shares, compared to its average volume of 974,898. Air Products & Chemicals has a 12-month low of $148.44 and a 12-month high of $201.97. The stock has a market capitalization of $43.19 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 1.85 and a beta of 0.82. The company has a current ratio of 2.21, a quick ratio of 2.03 and a debt-to-equity ratio of 0.30.
Several hedge funds have recently modified their holdings of APD. Field & Main Bank bought a new position in shares of Air Products & Chemicals in the 1st quarter worth $27,000. Athena Capital Advisors LLC purchased a new stake in Air Products & Chemicals during the 4th quarter valued at about $28,000. Old North State Trust LLC grew its stake in Air Products & Chemicals by 376.1% during the 4th quarter. Old North State Trust LLC now owns 219 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 173 shares during the last quarter. Pinnacle Bank purchased a new stake in Air Products & Chemicals during the 4th quarter valued at about $38,000. Finally, Transamerica Financial Advisors Inc. grew its stake in Air Products & Chemicals by 617.6% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 244 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.
A number of research firms recently issued reports on APD. Bank of America cut Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 price objective for the company. in a report on Tuesday, January 8th. They noted that the move was a valuation call. Zacks Investment Research cut Air Products & Chemicals from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. Credit Suisse Group boosted their price objective on Air Products & Chemicals from $188.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. KeyCorp boosted their price objective on Air Products & Chemicals from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, BMO Capital Markets boosted their price objective on Air Products & Chemicals from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $199.20.
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Air Products & Chemicals Company Profile
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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