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Market Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products Launches Hydrogen Services Business to Support Customer-owned Hydrogen Plants

[PR Newswire] – LEHIGH VALLEY, Pa., May 17, 2016 /PRNewswire/ — In response to increasing customer demand, Air Products (NYSE: APD) has launched a Hydrogen Services Business as part of the company’s Customer Plant Support organization. “Air Products has been reactively providing service on customer-owned hydrogen plants for more than 30 years,” said Kevin Michaelis, vice president, Products and Technology–Industrial Gases, at Air Products. Read more on this. Air Products and Chemicals, Inc. (APD) , with a current value of $31.03B, started the session at $143.50. During today’s session, APD traded between $142.22 to $144.28 with a one year range of $114.64 to $152.16. APD shares are currently priced at 19.19x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 28.70x earnings multiple for the same period. The company pays shareholders $3.44 per share in dividend income per year, for a current yield of 2.43%. In a review of the consensus earnings estimate this quarter, 15 sell-side analysts are looking at $1.91 per share, which would be $0.26 better than the year-ago quarter and a $0.02 sequential increase. What we find to be interesting is that the full-year EPS estimate of $7.48 is a $0.91 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.42 Billion. If reported, that would be a 2.02% decrease over the year-ago quarter. Recently, Deutsche Bank downgraded APD from Buy to Hold (Apr 4, 2016). Previously, KeyBanc Capital Mkts upgraded APD from Sector Weight to Overweight. With the above information in mind, readers should note that the average price target is $155.88, which is 8.63% above where the stock opened this morning. See more in (NYSE:APD) Similar Articles: Company Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products Will Exit Energy-from-Waste Business Company Update: Air Products & Chemicals Inc (NYSE:APD) – Chemicals – Major Diversified Stocks Review — The Dow Chemical, Huntsman, Air Products and Chemicals, and Praxair Company Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products Moves Forward with its Materials Technologies Business Spin-Off to Versum Materials
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