Praxair, Inc. (PX) to Post FY2017 Earnings of $5.80 Per Share, Seaport Global Securities Forecasts
Praxair, Inc. (NYSE:PX) – Equities researchers at Seaport Global Securities upped their FY2017 EPS estimates for Praxair in a report issued on Thursday. Seaport Global Securities analyst M. Harrison now anticipates that the basic materials company will post earnings per share of $5.80 for the year, up from their prior estimate of $5.69. Seaport Global Securities also issued estimates for Praxair’s Q4 2017 earnings at $1.47 EPS, Q1 2018 earnings at $1.49 EPS, Q2 2018 earnings at $1.56 EPS, Q3 2018 earnings at $1.67 EPS, Q4 2018 earnings at $1.59 EPS and FY2018 earnings at $6.32 EPS.
PX has been the topic of several other reports. Zacks Investment Research cut Praxair from a “hold” rating to a “sell” rating in a report on Friday, October 20th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $162.00 target price on shares of Praxair in a report on Friday, October 27th. BidaskClub cut Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Citigroup Inc. upgraded Praxair from a “neutral” rating to a “buy” rating and upped their target price for the company from $137.00 to $168.00 in a report on Monday, October 30th. Finally, KeyCorp reiterated a “hold” rating on shares of Praxair in a report on Sunday, September 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $145.77.
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Shares of Praxair (NYSE PX) opened at $147.50 on Monday. The firm has a market cap of $42,229.99, a P/E ratio of 25.70, a P/E/G ratio of 2.20 and a beta of 0.99. 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 (NYSE:PX) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be issued a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s payout ratio is 56.05%.
Several institutional investors have recently bought and sold shares of PX. BlackRock Inc. boosted its holdings in shares of Praxair by 2,091.9% during the 1st quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock worth $2,092,621,000 after buying an additional 16,839,374 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Praxair by 287.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock worth $185,099,000 after purchasing an additional 1,158,100 shares in the last quarter. CI Global Investments Inc. lifted its holdings in shares of Praxair by 141.4% in the 2nd quarter. CI Global Investments Inc. now owns 1,933,777 shares of the basic materials company’s stock worth $256,322,000 after purchasing an additional 1,132,606 shares in the last quarter. Capital World Investors lifted its holdings in shares of Praxair by 4.3% in the 2nd quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock worth $2,297,403,000 after purchasing an additional 716,835 shares in the last quarter. Finally, Egerton Capital UK LLP lifted its holdings in shares of Praxair by 24.0% in the 3rd quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock worth $473,016,000 after purchasing an additional 655,456 shares in the last quarter. Hedge funds and other institutional investors own 85.33% 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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