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Stock Update (NYSE:APD): Air Products Cuts Ribbon on New World-Scale Hydrogen Plant in Fort Saskatchewan, Canada

[PR Newswire] – LEHIGH VALLEY, Pa., July 7, 2016 /PRNewswire/ — Air Products (APD) and its subsidiary, Air Products Canada Ltd., today held a ribbon-cutting ceremony to formally dedicate its new world-scale hydrogen production facility in Ft. Saskatchewan, AB located twenty miles northeast of Edmonton, Alberta, Canada. The Air Products facility produces over 150 million standard cubic feet per day (MMSCFD) of hydrogen and is connected to Air Products’ existing hydrogen pipeline network, which supplies refiners, upgraders, chemical processors and other industries in the Alberta Industrial Heartland region. Air Products employees were joined by customers, elected officials and community stakeholders to commemorate the ribbon-cutting ceremony at the facility. “This plant and its connection to our pipeline network are key to meeting the growing hydrogen demands of our customers located in Alberta’s Industrial Heartland, which is a very important region to Air Products from a business growth standpoint. We are the leading global hydrogen provider, the number one provider of hydrogen in the region, and are excited to be expanding upon that position,” said Marie Ffolkes, president – Industrial Gases, Americas at Air Products. Read more on this. Air Products and Chemicals, Inc. (APD) , currently valued at $30.05B, started the session at $139.86. Today’s price range has been between $138.96 and $140.44 per share with a one year range of $114.64 to $152.16. Priced at 18.66x this year’s forecasted earnings, APD shares are relatively inexpensive compared to the industry’s 24.00x forward p/e ratio. According to a consensus of 16 analysts, the earnings estimate of $1.90 per share would be $0.25 better than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $7.47 is a $0.90 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.41 Billion. If realized, that would be a 2.43% 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. The average price target for APD shares by the analysts covering the stock is $155.75, which is 11.36% above where the stock opened this morning. See more in (NYSE:APD) Similar Articles: Market Update (NYSE:APD): Air Products Announces License Agreement for its Patented Hydrogen Fueling Protocol Market Update (NYSE:APD): Air Products and NSPE Team Up to Commercialize Their First Hydrogen Fueling Station in Japan Market Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products Launches Hydrogen Services Business to Support Customer-owned Hydrogen Plants
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