Air Products and Chemicals Inc. (APD) to Post Q4 2016 Earnings of $1.99 Per Share, Seaport Global Securities Forecasts
Air Products and Chemicals Inc. (NYSE:APD) – Seaport Global Securities lowered their Q4 2016 earnings per share estimates for shares of Air Products and Chemicals in a research report issued on Monday. Seaport Global Securities analyst M. Harrison now forecasts that the brokerage will earn $1.99 per share for the quarter, down from their prior estimate of $2.00. Seaport Global Securities currently has a “Buy” rating and a $165.00 target price on the stock.
Several other equities research analysts have also issued reports on APD. Zacks Investment Research lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Monday, July 4th. Citigroup Inc. raised their target price on shares of Air Products and Chemicals from $155.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, July 15th. Jefferies Group restated a “hold” rating and issued a $155.00 target price on shares of Air Products and Chemicals in a report on Friday, July 29th. JPMorgan Chase & Co. upgraded shares of Air Products and Chemicals from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $140.00 to $160.00 in a report on Friday, August 12th. Finally, Credit Suisse Group AG set a $163.00 target price on shares of Air Products and Chemicals and gave the stock a “buy” rating in a report on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Air Products and Chemicals currently has an average rating of “Hold” and a consensus target price of $151.43.
Shares of Air Products and Chemicals (NYSE:APD) traded up 1.349% on Tuesday, hitting $134.065. 362,216 shares of the stock traded hands. The stock has a market cap of $29.03 billion, a P/E ratio of 50.155 and a beta of 1.23. Air Products and Chemicals has a 52-week low of $106.05 and a 52-week high of $146.01. The stock’s 50 day moving average price is $138.30 and its 200 day moving average price is $135.85.
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Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.90 by $0.02. Air Products and Chemicals had a net margin of 6.12% and a return on equity of 22.00%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. Air Products and Chemicals’s quarterly revenue was down 1.4% on a year-over-year basis.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of Air Products and Chemicals during the second quarter worth about $37,233,000. Dearborn Partners LLC increased its position in shares of Air Products and Chemicals by 3.8% in the second quarter. Dearborn Partners LLC now owns 106,743 shares of the company’s stock worth $15,162,000 after buying an additional 3,873 shares during the last quarter. Natixis increased its position in shares of Air Products and Chemicals by 2,829.0% in the first quarter. Natixis now owns 960,396 shares of the company’s stock worth $138,345,000 after buying an additional 927,607 shares during the last quarter. Fenimore Asset Management Inc. increased its position in shares of Air Products and Chemicals by 38.5% in the third quarter. Fenimore Asset Management Inc. now owns 70,730 shares of the company’s stock worth $10,634,000 after buying an additional 19,670 shares during the last quarter. Finally, Orbis Allan Gray Ltd purchased a new position in shares of Air Products and Chemicals during the first quarter worth about $198,943,000. 88.46% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Russell A. Flugel sold 2,050 shares of Air Products and Chemicals stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $151.54, for a total value of $310,657.00. Following the transaction, the insider now owns 3,131 shares of the company’s stock, valued at approximately $474,471.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John D. Stanley sold 8,720 shares of Air Products and Chemicals stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $150.00, for a total transaction of $1,308,000.00. Following the completion of the transaction, the senior vice president now directly owns 25,152 shares in the company, valued at approximately $3,772,800. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 3rd will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, October 6th. Air Products and Chemicals’s payout ratio is currently 128.84%.
About Air Products and Chemicals
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 operates through seven segments: Industrial Gases-Americas, Industrial Gases-Europe, Middle East, and Africa (EMEA), Industrial Gases-Asia, Industrial Gases-Global, Materials Technologies, Energy-from-Waste, and Corporate and other.
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