FY2018 EPS Estimates for Praxair, Inc. (PX) Cut by Analyst
Praxair, Inc. (NYSE:PX) – Analysts at Jefferies Group reduced their FY2018 EPS estimates for Praxair in a note issued to investors on Monday. Jefferies Group analyst L. Alexander now anticipates that the basic materials company will post earnings of $6.35 per share for the year, down from their previous estimate of $6.40. Jefferies Group currently has a “Buy” rating and a $186.00 target price on the stock. Jefferies Group also issued estimates for Praxair’s FY2019 earnings at $6.85 EPS and FY2020 earnings at $7.50 EPS.
Several other equities research analysts have also recently commented on the company. UBS boosted their target price on Praxair to $176.00 and gave the company a “buy” rating in a research note on Friday. J P Morgan Chase & Co boosted their target price on Praxair from $145.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, November 17th. Argus upgraded Praxair from a “hold” rating to a “buy” rating and set a $171.00 target price on the stock in a research note on Monday, November 13th. Susquehanna Bancshares boosted their target price on Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Finally, Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Monday, November 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $157.38.
Praxair (NYSE PX) traded up $0.46 during midday trading on Wednesday, reaching $149.60. The company’s stock had a trading volume of 3,631,121 shares, compared to its average volume of 1,361,046. The company has a market cap of $43,309.40, a PE ratio of 26.35, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91. Praxair has a 12-month low of $115.00 and a 12-month high of $156.40.
Praxair (NYSE:PX) last released its earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.06. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 EPS.
Several institutional investors have recently made changes to their positions in PX. Parametric Portfolio Associates LLC increased its holdings in shares of Praxair by 7.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 978,952 shares of the basic materials company’s stock worth $136,799,000 after acquiring an additional 67,095 shares during the last quarter. AXA increased its holdings in shares of Praxair by 1.2% during the 3rd quarter. AXA now owns 247,036 shares of the basic materials company’s stock worth $34,521,000 after acquiring an additional 2,987 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Praxair during the 3rd quarter worth approximately $792,000. Public Employees Retirement System of Ohio increased its holdings in shares of Praxair by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 207,932 shares of the basic materials company’s stock worth $29,056,000 after acquiring an additional 728 shares during the last quarter. Finally, Cypress Capital Group acquired a new position in shares of Praxair during the 3rd quarter worth approximately $203,000. Institutional investors own 86.43% of the company’s stock.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the sale, the director now owns 16,697 shares in the company, valued at approximately $1,957,890.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be paid a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s dividend payout ratio is currently 56.05%.
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Praxair Company Profile
Praxair, Inc is an industrial gas company. 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, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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