Praxair, Inc. (PX) Expected to Announce Quarterly Sales of $2.87 Billion
Wall Street brokerages predict that Praxair, Inc. (NYSE:PX) will report $2.87 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Praxair’s earnings, with the highest sales estimate coming in at $2.90 billion and the lowest estimate coming in at $2.85 billion. Praxair reported sales of $2.72 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 5.5%. The company is scheduled to report its next earnings results on Thursday, October 26th.
On average, analysts expect that Praxair will report full-year sales of $2.87 billion for the current fiscal year, with estimates ranging from $10.94 billion to $11.25 billion. For the next financial year, analysts expect that the company will report sales of $11.70 billion per share, with estimates ranging from $11.40 billion to $11.83 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Praxair.
Praxair (NYSE:PX) last announced its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.03. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. Praxair’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 earnings per share.
Several research firms have commented on PX. Vertical Research upgraded Praxair to a “hold” rating and lifted their price target for the company from $123.00 to $127.00 in a report on Wednesday, June 7th. Jefferies Group LLC restated a “buy” rating and issued a $162.00 price target (up previously from $140.00) on shares of Praxair in a report on Saturday, June 3rd. Deutsche Bank AG restated a “hold” rating on shares of Praxair in a report on Friday, June 2nd. BidaskClub cut Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research cut Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $135.00.
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Shares of Praxair (PX) opened at 130.15 on Friday. The firm has a market cap of $37.23 billion, a PE ratio of 24.37 and a beta of 0.93. The stock’s 50 day moving average is $133.75 and its 200 day moving average is $125.01. Praxair has a 12 month low of $114.43 and a 12 month high of $138.69.
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. This represents a $3.15 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s dividend payout ratio is presently 58.88%.
Institutional investors have recently added to or reduced their stakes in the company. ARGI Investment Services LLC boosted its position in Praxair by 0.3% in the first quarter. ARGI Investment Services LLC now owns 2,007 shares of the basic materials company’s stock worth $238,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position in 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 worth $131,000 after buying an additional 8 shares in the last quarter. Capital Management Corp VA boosted its position in Praxair by 0.6% in the second quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock worth $248,000 after buying an additional 11 shares in the last quarter. Lcnb Corp boosted its position in Praxair by 0.4% in the first quarter. Lcnb Corp now owns 3,892 shares of the basic materials company’s stock worth $461,000 after buying an additional 15 shares in the last quarter. Finally, Birch Hill Investment Advisors LLC boosted its position in Praxair by 0.5% in the first quarter. Birch Hill Investment Advisors LLC now owns 4,154 shares of the basic materials company’s stock worth $493,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.49% of the company’s stock.
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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