Praxair’s “Neutral” Rating Reaffirmed at Goldman Sachs (PX)
Shares of Praxair traded down 0.54% during mid-day trading on Monday, hitting $112.90. Praxair has a 52 week low of $100.00 and a 52 week high of $116.93. The stock’s 50-day moving average is currently $111.4. The company has a market cap of $33.518 billion and a P/E ratio of 20.23.
Praxair last posted its quarterly earnings results on Wednesday, January 23rd. The company reported $1.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.38. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Praxair has set its FY13 guidance at $5.85-6.10 EPS. On average, analysts predict that Praxair will post $6.03 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on PX. Analysts at Jefferies Group reiterated a “buy” rating on shares of Praxair in a research note to investors on Monday. They now have a $134.00 price target on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Praxair in a research note to investors on Friday, February 8th. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Praxair in a research note to investors on Wednesday, February 6th. They now have a $125.00 price target on the stock, up previously from $124.00.
Seven equities research analysts have rated the stock with a buy rating, two have assigned an overweight rating, ten have given a hold rating, and one has given an underweight rating to the stock. The stock presently has an average rating of “overweight” and an average target price of $121.12.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 15th. Shareholders of record on Thursday, March 7th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Tuesday, March 5th. This is a positive change from Praxair’s previous quarterly dividend of $0.55.
Praxair Inc. (Praxair) is an industrial gas supplier in North and South America. Praxair’s primary products for its industrial gases business are atmospheric gases (oxygen, nitrogen, argon, rare gases) and process gases (carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene).
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