Praxair, Inc. (PX) Updates FY17 Earnings Guidance
Praxair, Inc. (NYSE:PX) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $5.63-5.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.73. Praxair also updated its Q3 guidance to $1.40-1.46 EPS.
Several equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Praxair from a buy rating to a hold rating in a research report on Tuesday. Zacks Investment Research raised shares of Praxair from a sell rating to a hold rating in a research report on Tuesday. Vertical Group raised shares of Praxair to a hold rating and raised their price target for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Vertical Research raised shares of Praxair to a hold rating and raised their price target for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Finally, Jefferies Group LLC reissued a buy rating and set a $162.00 price target on shares of Praxair in a research report on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Praxair has an average rating of Hold and a consensus target price of $130.77.
Praxair, Inc. (NYSE:PX) traded down 1.46% during midday trading on Thursday, reaching $133.06. 697,668 shares of the company’s stock were exchanged. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The stock’s 50-day moving average is $134.07 and its 200-day moving average is $124.52. The stock has a market capitalization of $37.97 billion, a price-to-earnings ratio of 25.01 and a beta of 0.94.
Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.04. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Praxair had a net margin of 14.26% and a return on equity of 28.42%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $1.39 earnings per share. On average, equities analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be issued a $0.7875 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.33%. Praxair’s dividend payout ratio is currently 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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