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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 the most recent trading day at $232.44, moving +0.3% from the previous trading session. This change outpaced the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 0.11%.
Prior to today's trading, shares of the seller of gases for industrial, medical and other uses had lost 9.81% over the past month. This has lagged the Basic Materials sector's loss of 3.29% and the S&P 500's loss of 8.4% in that time.
Air Products and Chemicals will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. In that report, analysts expect Air Products and Chemicals to post earnings of $2.77 per share. This would mark year-over-year growth of 10.36%. Meanwhile, our latest consensus estimate is calling for revenue of $3.29 billion, up 15.89% from the prior-year quarter.
It is also important to note the 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.75% lower within the past month. Air Products and Chemicals is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Air Products and Chemicals is currently trading at a Forward P/E ratio of 20.09. For comparison, its industry has an average Forward P/E of 8.42, which means Air Products and Chemicals is trading at a premium to the group.
It is also worth noting that APD currently has a PEG ratio of 1.41. 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. The Chemical - Diversified industry currently had an average PEG ratio of 1.27 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 228, putting it in the bottom 10% 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.
To follow APD in the coming trading sessions, be sure to utilize 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 the most recent trading day at $232.44, moving +0.3% from the previous trading session. This change outpaced the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 0.11%.
Prior to today's trading, shares of the seller of gases for industrial, medical and other uses had lost 9.81% over the past month. This has lagged the Basic Materials sector's loss of 3.29% and the S&P 500's loss of 8.4% in that time.
Air Products and Chemicals will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. In that report, analysts expect Air Products and Chemicals to post earnings of $2.77 per share. This would mark year-over-year growth of 10.36%. Meanwhile, our latest consensus estimate is calling for revenue of $3.29 billion, up 15.89% from the prior-year quarter.
It is also important to note the 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.75% lower within the past month. Air Products and Chemicals is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Air Products and Chemicals is currently trading at a Forward P/E ratio of 20.09. For comparison, its industry has an average Forward P/E of 8.42, which means Air Products and Chemicals is trading at a premium to the group.
It is also worth noting that APD currently has a PEG ratio of 1.41. 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. The Chemical - Diversified industry currently had an average PEG ratio of 1.27 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 228, putting it in the bottom 10% 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.
To follow APD in the coming trading sessions, be sure to utilize Zacks.com.