Jefferies Group Comments on Air Products & Chemicals, Inc.’s FY2018 Earnings (APD)
Air Products & Chemicals, Inc. (NYSE:APD) – Stock analysts at Jefferies Group lifted their FY2018 earnings per share estimates for shares of Air Products & Chemicals in a research report issued to clients and investors on Monday. Jefferies Group analyst L. Alexander now expects that the basic materials company will post earnings of $7.05 per share for the year, up from their previous estimate of $7.00. Jefferies Group has a “Buy” rating and a $185.00 price objective on the stock. Jefferies Group also issued estimates for Air Products & Chemicals’ FY2019 earnings at $7.75 EPS and FY2020 earnings at $8.55 EPS.
Air Products & Chemicals (NYSE:APD) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.08. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.12 billion. Air Products & Chemicals had a return on equity of 15.25% and a net margin of 36.65%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.01 earnings per share.
Air Products & Chemicals (APD) traded down $0.40 during trading hours on Tuesday, reaching $162.49. The company’s stock had a trading volume of 860,000 shares, compared to its average volume of 1,288,868. The company has a quick ratio of 2.23, a current ratio of 2.36 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $35,400.00, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 1.65 and a beta of 1.24. Air Products & Chemicals has a 12-month low of $133.63 and a 12-month high of $164.65.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 12th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.34%. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 73.64%.
Hedge funds have recently modified their holdings of the business. Tortoise Investment Management LLC boosted its holdings in shares of Air Products & Chemicals by 3,369.6% in the 3rd quarter. Tortoise Investment Management LLC now owns 798 shares of the basic materials company’s stock valued at $121,000 after purchasing an additional 775 shares in the last quarter. IMS Capital Management acquired a new stake in shares of Air Products & Chemicals during the 2nd quarter valued at $129,000. Armbruster Capital Management Inc. boosted its holdings in shares of Air Products & Chemicals by 13.5% during the 2nd quarter. Armbruster Capital Management Inc. now owns 908 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 108 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in shares of Air Products & Chemicals by 0.7% during the 2nd quarter. Oakworth Capital Inc. now owns 1,027 shares of the basic materials company’s stock valued at $147,000 after acquiring an additional 7 shares in the last quarter. Finally, Mosaic Family Wealth LLC boosted its holdings in shares of Air Products & Chemicals by 7.0% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,070 shares of the basic materials company’s stock valued at $153,000 after acquiring an additional 70 shares in the last quarter. 88.17% of the stock is currently owned by hedge funds and other institutional investors.
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About Air Products & 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 is also a supplier of liquefied natural gas process technology and equipment.
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