Q3 2016 Earnings Forecast for Praxair Inc. Issued By Seaport Global Securities (PX)
Praxair Inc. (NYSE:PX) – Stock analysts at Seaport Global Securities reduced their Q3 2016 earnings per share (EPS) estimates for shares of Praxair in a research report issued on Monday. Seaport Global Securities analyst M. Harrison now expects that the firm will earn $1.37 per share for the quarter, down from their prior forecast of $1.41. Seaport Global Securities also issued estimates for Praxair’s Q4 2016 earnings at $1.42 EPS, FY2016 earnings at $5.46 EPS, Q1 2017 earnings at $1.45 EPS, Q3 2017 earnings at $1.52 EPS, Q4 2017 earnings at $1.56 EPS and FY2017 earnings at $6.08 EPS.
PX has been the topic of a number of other reports. TheStreet raised Praxair from a “hold” rating to a “buy” rating in a research report on Monday, August 29th. Zacks Investment Research cut Praxair from a “hold” rating to a “sell” rating in a research report on Monday, October 3rd. Jefferies Group reaffirmed a “buy” rating and set a $140.00 price objective on shares of Praxair in a research report on Friday, September 30th. Morgan Stanley initiated coverage on Praxair in a research report on Tuesday, September 13th. They set an “equal weight” rating and a $125.00 price objective on the stock. Finally, Barclays PLC lifted their price objective on Praxair from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $118.57.
Shares of Praxair (NYSE:PX) opened at 118.49 on Tuesday. The stock has a market cap of $33.80 billion, a price-to-earnings ratio of 21.58 and a beta of 0.93. Praxair has a 52 week low of $95.60 and a 52 week high of $125.00. The firm has a 50-day moving average price of $119.07 and a 200 day moving average price of $116.14.
Praxair (NYSE:PX) last issued its earnings results on Thursday, July 28th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The business earned $2.70 billion during the quarter, compared to analyst estimates of $2.60 billion. Praxair had a return on equity of 31.66% and a net margin of 15.09%. Praxair’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.45 earnings per share.
Several institutional investors have recently made changes to their positions in the company. Van Cleef Asset Management Inc boosted its position in shares of Praxair by 1.5% in the third quarter. Van Cleef Asset Management Inc now owns 67,376 shares of the company’s stock worth $8,141,000 after buying an additional 970 shares during the period. Somerset Trust Co boosted its position in shares of Praxair by 3.4% in the third quarter. Somerset Trust Co now owns 9,670 shares of the company’s stock worth $1,168,000 after buying an additional 317 shares during the period. Chesley Taft & Associates LLC boosted its position in shares of Praxair by 2.3% in the third quarter. Chesley Taft & Associates LLC now owns 25,044 shares of the company’s stock worth $3,026,000 after buying an additional 555 shares during the period. BTIM Corp. boosted its position in shares of Praxair by 0.3% in the third quarter. BTIM Corp. now owns 185,009 shares of the company’s stock worth $22,355,000 after buying an additional 618 shares during the period. Finally, Windward Capital Management Co. CA boosted its position in shares of Praxair by 0.6% in the third quarter. Windward Capital Management Co. CA now owns 132,496 shares of the company’s stock worth $16,009,000 after buying an additional 844 shares during the period. Hedge funds and other institutional investors own 83.76% of the company’s stock.
Praxair Company Profile
Praxair, Inc is an industrial gas supplier in North and South America, Asia and Europe. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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