Zacks: Analysts Expect Praxair, Inc. (PX) Will Post Earnings of $1.42 Per Share
Equities analysts forecast that Praxair, Inc. (NYSE:PX) will announce earnings of $1.42 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Praxair’s earnings, with estimates ranging from $1.40 to $1.45. Praxair reported earnings of $1.39 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.2%. The firm is expected to report its next quarterly earnings report on Thursday, July 27th.
On average, analysts expect that Praxair will report full-year earnings of $5.72 per share for the current financial year, with EPS estimates ranging from $5.65 to $5.80. For the next fiscal year, analysts anticipate that the company will post earnings of $6.25 per share, with EPS estimates ranging from $5.98 to $6.65. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Praxair.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, April 27th. The basic materials company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. Praxair had a return on equity of 28.42% and a net margin of 14.26%. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the company posted $1.28 EPS. The business’s revenue was up 8.7% on a year-over-year basis.
A number of research analysts have recently issued reports on PX shares. Barclays PLC raised their price objective on Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, May 1st. Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. Zacks Investment Research cut Praxair from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Bank of America Corporation raised Praxair from a “neutral” rating to a “buy” rating and raised their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, June 7th. Finally, Vertical Research raised Praxair to a “hold” rating and raised their price objective for the company from $123.00 to $127.00 in a research note on Wednesday, June 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $130.77.
Several hedge funds have recently bought and sold shares of PX. Carroll Financial Associates Inc. raised its stake in shares of Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock valued at $100,000 after buying an additional 120 shares during the period. Sandy Spring Bank raised its stake in shares of Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock valued at $100,000 after buying an additional 200 shares during the period. Capital Analysts LLC raised its stake in shares of Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock valued at $120,000 after buying an additional 65 shares during the period. Guardian Life Insurance Co. of America raised its stake in shares of Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock valued at $131,000 after buying an additional 8 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of Praxair by 4.0% in the first quarter. Quadrant Capital Group LLC now owns 1,208 shares of the basic materials company’s stock valued at $137,000 after buying an additional 47 shares during the period. 85.88% of the stock is currently owned by institutional investors.
Praxair (PX) traded up 0.364% during midday trading on Monday, hitting $136.495. The company’s stock had a trading volume of 597,828 shares. The stock has a 50 day moving average of $131.06 and a 200 day moving average of $121.79. Praxair has a 52-week low of $106.31 and a 52-week high of $138.69. The company has a market cap of $38.95 billion, a PE ratio of 25.657 and a beta of 0.94.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, June 7th were paid a $0.7875 dividend. The ex-dividend date was Monday, June 5th. This represents a $3.15 annualized dividend and a dividend yield of 2.32%. Praxair’s payout ratio is presently 59.10%.
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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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