Brokers Issue Forecasts for Praxair’s Q1 2018 Earnings (NYSE:PX)

Praxair (NYSE:PX) – Research analysts at KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for Praxair in a research note issued on Wednesday, April 11th, according to Zacks Investment Research. KeyCorp analyst M. Sison expects that the basic materials company will post earnings of $1.55 per share for the quarter. KeyCorp also issued estimates for Praxair’s Q2 2018 earnings at $1.60 EPS, Q3 2018 earnings at $1.67 EPS and Q4 2018 earnings at $1.68 EPS.

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Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.04. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.85 billion. Praxair had a net margin of 10.90% and a return on equity of 26.54%.

PX has been the topic of a number of other research reports. Barclays raised their price target on shares of Praxair from $160.00 to $170.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. SunTrust Banks raised their price target on shares of Praxair to $185.00 and gave the company a “buy” rating in a report on Friday, January 26th. Zacks Investment Research downgraded shares of Praxair from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Citigroup reaffirmed a “buy” rating and set a $188.00 price target on shares of Praxair in a report on Friday, January 26th. Finally, TheStreet downgraded shares of Praxair from an “a-” rating to a “c+” rating in a report on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $165.27.

NYSE:PX opened at $150.68 on Monday. The stock has a market cap of $43,265.80, a price-to-earnings ratio of 25.76, a PEG ratio of 1.96 and a beta of 1.08. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.99 and a quick ratio of 0.81. Praxair has a fifty-two week low of $119.07 and a fifty-two week high of $166.95.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Green Square Capital LLC boosted its holdings in shares of Praxair by 104.9% in the fourth quarter. Green Square Capital LLC now owns 5,143 shares of the basic materials company’s stock worth $796,000 after buying an additional 2,633 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Praxair by 47.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 9,183 shares of the basic materials company’s stock valued at $1,420,000 after purchasing an additional 2,934 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in Praxair by 8.3% during the fourth quarter. Xact Kapitalforvaltning AB now owns 49,703 shares of the basic materials company’s stock valued at $7,688,000 after purchasing an additional 3,807 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Praxair by 2.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 129,701 shares of the basic materials company’s stock valued at $20,063,000 after purchasing an additional 3,197 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Praxair by 8.1% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 157,512 shares of the basic materials company’s stock valued at $24,364,000 after purchasing an additional 11,822 shares in the last quarter. 86.28% of the stock is currently owned by institutional investors.

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About Praxair

Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

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Earnings History and Estimates for Praxair (NYSE:PX)

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