Praxair, Inc. (NYSE:PX) Expected to Post Quarterly Sales of $2.82 Billion
Equities research analysts forecast that Praxair, Inc. (NYSE:PX) will post sales of $2.82 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Praxair’s earnings. The highest sales estimate is $2.85 billion and the lowest is $2.80 billion. Praxair posted sales of $2.67 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The business is expected to announce its next quarterly earnings report before the market opens on Thursday, July 27th.
According to Zacks, analysts expect that Praxair will report full-year sales of $2.82 billion for the current financial year, with estimates ranging from $10.83 billion to $11.24 billion. For the next year, analysts forecast that the company will post sales of $11.69 billion per share, with estimates ranging from $11.55 billion to $11.86 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Praxair.
Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, April 27th. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.04. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Praxair had a return on equity of 28.42% and a net margin of 14.26%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.28 earnings per share.
A number of brokerages have issued reports on PX. Zacks Investment Research cut Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub raised Praxair from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Vertical Group raised Praxair to a “hold” rating and upped their target price for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 target price on shares of Praxair in a report on Wednesday, June 21st. Finally, Vertical Research upgraded Praxair to a “hold” rating and upped their price target for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $130.77.
Praxair (PX) opened at 134.31 on Friday. Praxair has a 12-month low of $111.89 and a 12-month high of $138.69. The company has a market cap of $38.33 billion, a PE ratio of 25.25 and a beta of 0.94. The company has a 50-day moving average price of $132.66 and a 200 day moving average price of $122.59.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, June 7th were given a dividend of $0.7875 per share. The ex-dividend date was Monday, June 5th. This represents a $3.15 annualized dividend and a dividend yield of 2.35%. Praxair’s payout ratio is 59.10%.
Large investors have recently made changes to their positions in the stock. Egerton Capital UK LLP raised its stake in shares of Praxair by 10.1% in the first quarter. Egerton Capital UK LLP now owns 2,338,087 shares of the basic materials company’s stock valued at $277,297,000 after buying an additional 215,399 shares during the last quarter. Cribstone Capital Management LLC raised its stake in shares of Praxair by 49.3% in the first quarter. Cribstone Capital Management LLC now owns 2,360 shares of the basic materials company’s stock valued at $280,000 after buying an additional 779 shares during the last quarter. Searle & CO. acquired a new stake in shares of Praxair during the fourth quarter valued at approximately $250,000. Benin Management CORP raised its stake in shares of Praxair by 33.9% in the first quarter. Benin Management CORP now owns 10,570 shares of the basic materials company’s stock valued at $1,254,000 after buying an additional 2,675 shares during the last quarter. Finally, Rockland Trust Co. raised its stake in shares of Praxair by 3.1% in the first quarter. Rockland Trust Co. now owns 73,514 shares of the basic materials company’s stock valued at $8,719,000 after buying an additional 2,235 shares during the last quarter. Institutional investors own 85.56% of the company’s stock.
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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