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Air Products & Chemicals : Trading Up 4.8% After Earnings Beat (APD)

08/01/2015 | 12:01am US/Eastern

Air Products & Chemicals shares were up 4.8% during trading on Thursday following a better than expected earnings announcement, AnalystRatings.NET reports. The stock traded as high as $144.00 and last traded at $140.57, with a volume of 2,060,961 shares traded. The stock had previously closed at $134.14. The company reported $1.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters consensus estimate of $1.58 by $0.07. During the same quarter in the prior year, the company posted $1.46 earnings per share. The business earned $2.47 billion during the quarter, compared to analyst estimates of $2.51 billion. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which will be issued on Monday, August 10th. Shareholders of record on Wednesday, July 1st will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Monday, June 29th. A number of analysts have issued reports on APD shares. Deutsche Bank reissued a “buy” rating and set a $175.00 price objective on shares of Air Products & Chemicals in a report on Tuesday, April 21st. Robert W. Baird reaffirmed an “outperform” rating and issued a $159.00 price target (down previously from $163.00) on shares of Air Products & Chemicals in a research note on Saturday, May 9th. Societe Generale reiterated a “hold” rating and issued a $150.00 price objective (up previously from $132.00) on shares of Air Products & Chemicals in a research report on Wednesday, May 20th. Global Hunter Securities initiated coverage on Air Products & Chemicals in a research report on Thursday, June 4th. They set a “neutral” rating and a $155.00 target price for the company. Finally, Zacks raised Air Products & Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, July 13th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Air Products & Chemicals presently has an average rating of “Buy” and an average price target of $158.78.

In related news, CEO Seifi Ghasemi bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average price of $145.68 per share, for a total transaction of $2,913,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The firm has a 50-day moving average price of $138.66 and a 200 day moving average price of $146.73. The stock has a market cap of $30.57 billion and a P/E ratio of 29.83.

Air Products and Chemicals, Inc. serves energy, electronics, chemicals, steel, and manufacturing customers with a portfolio of products, services, and solutions that include atmospheric gases, process and specialty gases, performance materials, equipment, and services. The Company operates in four business segments: Merchant Gases, Tonnage Gases, Electronics and Performance Materials, and Equipment and Energy. Merchant Gases sells atmospheric gases, such as oxygen, nitrogen, and argon, process gases, medical and specialty gases, and certain services and equipment. Tonnage Gases provides hydrogen, carbon monoxide, nitrogen, oxygen, and synthesis gas. Electronics and Performance Materials provide the electronics industry with specialty gases. Equipment and Energy designs and manufactures cryogenic equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction (LNG), and helium distribution.

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