Yahoo Finance Air Products and Chemicals (APD) Rises But Trails Market: What Investors Should Know
In the latest trading session, Air Products and Chemicals (APD) closed at $236.08, marking a +0.43% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 1.02% for the day. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 2.03%.
The the stock of seller of gases for industrial, medical and other uses has fallen by 2.97% in the past month, lagging the Basic Materials sector's loss of 1.66% and overreaching the S&P 500's loss of 3.15%.
Market participants will be closely following the financial results of Air Products and Chemicals in its upcoming release. The company plans to announce its earnings on April 30, 2024. The company is forecasted to report an EPS of $2.72, showcasing a 0.73% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $3.15 billion, down 1.52% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $12.38 per share and revenue of $12.68 billion. These totals would mark changes of +7.56% and +0.66%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Air Products and Chemicals. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% downward. Currently, Air Products and Chemicals is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Air Products and Chemicals currently has a Forward P/E ratio of 18.99. This represents a premium compared to its industry's average Forward P/E of 17.91.
We can additionally observe that APD currently boasts a PEG ratio of 2.59. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Chemical - Diversified industry held an average PEG ratio of 1.1.
The Chemical - Diversified industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Air Products and Chemicals, Inc. (APD) : Free Stock Analysis Report