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Stock Update (NYSE:APD): Air Products and Unipetrol Sign New Contract Extending Long-term Relationship

[PR Newswire] – LEHIGH VALLEY, Pa., Feb. 18, 2016 /PRNewswire/ — World -leading industrial gas company, Air Products (APD), and Unipetrol RPA, part of the leading petrochemical and refining group – Unipetrol, have signed a new long-term agreement extending their successful relationship. The contract, which will run until 2027, sees Air Products continuing to supply industrial gases from its existing air separation unit (ASU) to meet Unipetrol’s needs. Unipetrol and Air Products have been collaborating for over 20 years and this brings many commercial advantages. Both companies continually optimize processes and drive performance based on existing and future needs. This mutually beneficial approach also creates value for customers in the Czech and broader Central European market. Read more on this. Air Products and Chemicals, Inc. (APD) , with a current value of $28.30B, started trading this morning at $132.39. During today’s session, APD traded between $130.58 to $132.96 with a one year range of $114.64 to $158.20. APD shares are currently priced at 17.86x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 10.80x 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 2.49%. According to a consensus of 15 analysts, the earnings estimate of $1.80 per share would be $0.25 better than the year-ago quarter and a $0.05 sequential increase. What we find to be interesting is that the full-year EPS estimate of $7.42 is a $0.85 improvement 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 $2.38 Billion. If realized, that would be a 1.24% decrease over the year-ago quarter. More recently, KeyBanc Capital Mkts upgraded APD from Sector Weight to Overweight (Jan 11, 2016). Previously, Citigroup downgraded APD from Buy to Neutral. Given all the information above, we should disclose to readers that the average price target is $144.89, which is 9.44% above than it opened this morning. See more in (NYSE:APD) Similar Articles: Stock Update: Air Products & Chemicals Inc (NYSE:APD) – Logo Unveiled for Air Products’ Spin-Off Company Versum Materials Stock Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products’ Materials Technologies to Increase Prices for Electronics Offerings Company Update (NYSE:APD): Air Products Building Helium Plant for RasGas; Wins Long-Term Helium Supply Contract
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