Praxair, Inc. Expected to Earn FY2018 Earnings of $6.75 Per Share (PX)
Praxair, Inc. (NYSE:PX) – Stock analysts at Jefferies Group lifted their FY2018 earnings per share (EPS) estimates for shares of Praxair in a report issued on Tuesday. Jefferies Group analyst L. Alexander now forecasts that the basic materials company will earn $6.75 per share for the year, up from their prior forecast of $6.35. Jefferies Group has a “Buy” rating and a $186.00 price objective on the stock. Jefferies Group also issued estimates for Praxair’s FY2019 earnings at $7.25 EPS and FY2020 earnings at $7.90 EPS.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.06. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. Praxair’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 EPS.
Shares of Praxair (NYSE PX) traded up $1.31 during trading hours on Thursday, reaching $157.50. 1,428,000 shares of the company were exchanged, compared to its average volume of 1,247,800. The firm has a market cap of $45,890.00, a PE ratio of 28.02, a P/E/G ratio of 2.16 and a beta of 1.00. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11. Praxair has a 12-month low of $115.00 and a 12-month high of $157.69.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, December 7th were issued a dividend of $0.7875 per share. The ex-dividend date of this dividend was Wednesday, December 6th. This represents a $3.15 annualized dividend and a yield of 2.00%. Praxair’s dividend payout ratio (DPR) is currently 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the sale, the director now directly owns 16,697 shares in the company, valued at $1,957,890.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.23% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. boosted its position in shares of Praxair by 0.5% in the second quarter. Salem Investment Counselors Inc. now owns 2,418 shares of the basic materials company’s stock worth $321,000 after acquiring an additional 13 shares during the last quarter. Elkhorn Investments LLC lifted its position in Praxair by 0.3% during the second quarter. Elkhorn Investments LLC now owns 9,265 shares of the basic materials company’s stock valued at $1,206,000 after buying an additional 31 shares in the last quarter. Peapack Gladstone Financial Corp lifted its position in Praxair by 1.3% during the second quarter. Peapack Gladstone Financial Corp now owns 4,576 shares of the basic materials company’s stock valued at $607,000 after buying an additional 58 shares in the last quarter. TCI Wealth Advisors Inc. lifted its position in Praxair by 7.0% during the second quarter. TCI Wealth Advisors Inc. now owns 916 shares of the basic materials company’s stock valued at $121,000 after buying an additional 60 shares in the last quarter. Finally, AMG Funds LLC lifted its position in Praxair by 0.3% during the second quarter. AMG Funds LLC now owns 22,721 shares of the basic materials company’s stock valued at $3,012,000 after buying an additional 72 shares in the last quarter. 85.48% of the stock is currently owned by institutional investors and hedge funds.
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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