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Air Products and Chemicals (APD) Gains As Market Dips: What You Should Know
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Air Products and Chemicals (APD - Free Report) closed at $290.50 in the latest trading session, marking a +0.95% move from the prior day. This change outpaced the S&P 500's 0.01% loss on the day. Elsewhere, the Dow lost 0.23%, while the tech-heavy Nasdaq added 0.97%.
Prior to today's trading, shares of the seller of gases for industrial, medical and other uses had gained 3.22% over the past month. This has lagged the Basic Materials sector's gain of 8.43% and the S&P 500's gain of 6.23% in that time.
Investors will be hoping for strength from Air Products and Chemicals as it approaches its next earnings release, which is expected to be May 9, 2023. The company is expected to report EPS of $2.64, up 10.92% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.02 billion, up 2.49% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.41 per share and revenue of $13.1 billion. These totals would mark changes of +9.61% and +3.16%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Air Products and Chemicals. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.19% higher. Air Products and Chemicals currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Air Products and Chemicals has a Forward P/E ratio of 25.23 right now. This valuation marks a premium compared to its industry's average Forward P/E of 14.7.
Meanwhile, APD's PEG ratio is currently 2.61. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Chemical - Diversified industry currently had an average PEG ratio of 1.57 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 221, which puts it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Air Products and Chemicals (APD) Gains As Market Dips: What You Should Know
Air Products and Chemicals (APD - Free Report) closed at $290.50 in the latest trading session, marking a +0.95% move from the prior day. This change outpaced the S&P 500's 0.01% loss on the day. Elsewhere, the Dow lost 0.23%, while the tech-heavy Nasdaq added 0.97%.
Prior to today's trading, shares of the seller of gases for industrial, medical and other uses had gained 3.22% over the past month. This has lagged the Basic Materials sector's gain of 8.43% and the S&P 500's gain of 6.23% in that time.
Investors will be hoping for strength from Air Products and Chemicals as it approaches its next earnings release, which is expected to be May 9, 2023. The company is expected to report EPS of $2.64, up 10.92% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.02 billion, up 2.49% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.41 per share and revenue of $13.1 billion. These totals would mark changes of +9.61% and +3.16%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Air Products and Chemicals. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.19% higher. Air Products and Chemicals currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Air Products and Chemicals has a Forward P/E ratio of 25.23 right now. This valuation marks a premium compared to its industry's average Forward P/E of 14.7.
Meanwhile, APD's PEG ratio is currently 2.61. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Chemical - Diversified industry currently had an average PEG ratio of 1.57 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 221, which puts it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.