Praxair, Inc. (NYSE:PX) – Equities researchers at Seaport Global Securities raised their FY2017 EPS estimates for shares of Praxair in a research report issued on Thursday, according to Zacks Investment Research. 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 forecast 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.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 EPS 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 the consensus estimate of $2.84 billion. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.41 EPS.
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Several other research firms have also recently issued reports on PX. Barclays PLC increased their price target on Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $162.00 price target on shares of Praxair in a research note on Friday, October 27th. Susquehanna Bancshares Inc increased their price target on Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Argus raised Praxair from a “hold” rating to a “buy” rating and set a $171.00 price target for the company in a research note on Monday. Finally, UBS AG increased their price target on Praxair from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $150.21.
Praxair (PX) opened at $147.63 on Monday. Praxair has a 52 week low of $115.00 and a 52 week high of $150.25. The stock has a market capitalization of $42,416.13, a price-to-earnings ratio of 25.81, a PEG ratio of 2.21 and a beta of 0.99. 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 business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be issued a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s dividend payout ratio is 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the company’s 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 sale, the director now directly owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PX. BlackRock Inc. lifted its stake in Praxair by 2,091.9% in the 1st quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock worth $2,092,621,000 after acquiring an additional 16,839,374 shares in the last quarter. Renaissance Technologies LLC lifted its stake in 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 acquiring an additional 1,158,100 shares in the last quarter. CI Global Investments Inc. lifted its stake in 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 acquiring an additional 1,132,606 shares in the last quarter. Capital World Investors lifted its stake in 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 acquiring an additional 716,835 shares in the last quarter. Finally, Egerton Capital UK LLP lifted its stake in 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 acquiring an additional 655,456 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.
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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