Equities analysts predict that Praxair, Inc. (NYSE:PX) will post sales of $2.93 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Praxair’s earnings. The highest sales estimate is $2.94 billion and the lowest is $2.92 billion. Praxair posted sales of $2.73 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The firm is scheduled to announce its next earnings results on Thursday, April 26th.
According to Zacks, analysts expect that Praxair will report full year sales of $2.93 billion for the current year, with estimates ranging from $11.85 billion to $12.26 billion. For the next year, analysts anticipate that the company will post sales of $12.76 billion per share, with estimates ranging from $12.60 billion to $12.92 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Praxair.
A number of equities analysts recently issued reports on PX shares. Susquehanna Bancshares increased their price objective on Praxair from $155.00 to $175.00 in a report on Tuesday, November 7th. Deutsche Bank raised Praxair from a “hold” rating to a “buy” rating and increased their price objective for the stock from $155.00 to $175.00 in a report on Tuesday, December 19th. UBS Group increased their price objective on Praxair to $176.00 and gave the stock a “buy” rating in a report on Friday, December 15th. Jefferies Group set a $186.00 price objective on Praxair and gave the stock a “buy” rating in a report on Monday, December 11th. Finally, Argus raised Praxair from a “hold” rating to a “buy” rating and set a $171.00 price objective for the company in a report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Praxair currently has an average rating of “Buy” and a consensus target price of $163.47.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, March 7th will be paid a dividend of $0.825 per share. This is a positive change from Praxair’s previous quarterly dividend of $0.79. This represents a $3.30 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Tuesday, March 6th. Praxair’s dividend payout ratio (DPR) is presently 72.92%.
In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of 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 filing with the SEC, which is accessible through the SEC website. 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 company. Chevy Chase Trust Holdings Inc. lifted its holdings in shares of Praxair by 1.0% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 256,321 shares of the basic materials company’s stock valued at $35,818,000 after purchasing an additional 2,489 shares in the last quarter. Atlantic Trust Group LLC lifted its holdings in shares of Praxair by 1.4% in the third quarter. Atlantic Trust Group LLC now owns 910,983 shares of the basic materials company’s stock valued at $127,300,000 after purchasing an additional 12,173 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Praxair by 14.8% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 7,458 shares of the basic materials company’s stock valued at $1,042,000 after purchasing an additional 962 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Praxair by 81.9% in the third quarter. SG Americas Securities LLC now owns 47,375 shares of the basic materials company’s stock valued at $6,620,000 after purchasing an additional 21,333 shares in the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of Praxair by 2.7% in the third quarter. Stephens Inc. AR now owns 35,608 shares of the basic materials company’s stock valued at $4,976,000 after purchasing an additional 949 shares in the last quarter. 85.62% of the stock is owned by institutional investors and hedge funds.
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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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