Company Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products Moves Forward with its Materials Technologies Business Spin-Off to Versum Materials

[PR Newswire] – LEHIGH VALLEY, Pa., Dec. 18, 2015 /PRNewswire/ — Air Products (NYSE:APD) announced today it filed an initial Form 10* registration statement with the United States Securities and Exchange Commission to move forward the previously announced spin-off of its Materials Technologies business, which will be named Versum Materials. Air Products expects to complete the spin-off on or before September 2016. Versum Materials intends to apply to have its common stock authorized for listing on the New York Stock Exchange, Inc. Read more on this. Air Products and Chemicals, Inc. (APD) , valued at $27.54B, started trading this morning at $129.50. Looking at today’s trading action, the company’s one day range from $127.80 to $130.02 and has traded between $123.66 and $158.20 over the past 12 months. APD shares are currently priced at 17.64x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 11.73x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $3.24 per share annually in dividends, yielding 2.46%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $1.71 per share, which would be $0.16 better than the year-ago quarter and a $0.10 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $7.39, which would be a $0.82 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.45 Billion. If realized, that would be a 4.30% decrease over the year-ago quarter. More recently, Global Hunter Securities upgraded APD from Neutral to Accumulate (Aug 4, 2015). Previously, Global Hunter Securities Initiated APD at to Neutral. Given all the information above, we should disclose to readers that the average price target is $154.25, which is 19.11% above than it opened this morning. See more in (NYSE:APD) Similar Articles: Stock Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products’ Materials Technologies to Increase Prices for Electronics Offerings Company Update: Air Products & Chemicals Inc (NYSE:APD) – Versum Materials is the selected name for the Materials Technologies Business spin-off of Air Products Company Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products’ CEO to Address Morgan Stanley Global Chemicals and Agriculture Conference on 10 November