Praxair, Inc. (PX) Forecasted to Earn Q4 2018 Earnings of $1.45 Per Share

Praxair, Inc. (NYSE:PX) – KeyCorp issued their Q4 2018 earnings per share estimates for Praxair in a report issued on Tuesday. KeyCorp analyst M. Sison forecasts that the basic materials company will post earnings of $1.45 per share for the quarter.

PX has been the topic of a number of other reports. UBS Group lifted their price objective on Praxair from $150.00 to $160.00 and gave the company a “buy” rating in a report on Friday, October 27th. Citigroup raised Praxair from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $137.00 to $168.00 in a report on Monday, October 30th. Deutsche Bank raised Praxair from a “hold” rating to a “buy” rating and lifted their price objective for the company from $155.00 to $175.00 in a report on Tuesday, December 19th. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a report on Monday, November 6th. Finally, Argus raised Praxair from a “hold” rating to a “buy” rating and set a $171.00 price objective on the stock in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Praxair currently has a consensus rating of “Hold” and a consensus target price of $159.86.

Praxair (PX) traded up $0.38 during midday trading on Friday, reaching $161.88. The company’s stock had a trading volume of 1,678,970 shares, compared to its average volume of 1,953,477. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $46,350.00, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 2.24 and a beta of 1.00. Praxair has a 12 month low of $115.53 and a 12 month high of $166.08.

Praxair (NYSE:PX) last released its earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the business earned $1.41 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year.

Several institutional investors and hedge funds have recently made changes to their positions in PX. Salem Investment Counselors Inc. raised its position in Praxair by 0.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 2,418 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 13 shares during the last quarter. Elkhorn Investments LLC raised its position in Praxair by 0.3% in the 2nd quarter. Elkhorn Investments LLC now owns 9,265 shares of the basic materials company’s stock worth $1,206,000 after purchasing an additional 31 shares during the last quarter. Peapack Gladstone Financial Corp raised its position in Praxair by 1.3% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 4,576 shares of the basic materials company’s stock worth $607,000 after purchasing an additional 58 shares during the last quarter. Laurel Wealth Advisors Inc. raised its position in Praxair by 2.2% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,398 shares of the basic materials company’s stock worth $450,000 after purchasing an additional 74 shares during the last quarter. Finally, FTB Advisors Inc. raised its position in Praxair by 2.8% in the 2nd quarter. FTB Advisors Inc. now owns 2,910 shares of the basic materials company’s stock worth $385,000 after purchasing an additional 79 shares during the last quarter. 85.51% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Raymond W. Leboeuf sold 6,550 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total value of $768,053.00. Following the transaction, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.

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About Praxair

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.

Earnings History and Estimates for Praxair (NYSE:PX)

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