Equities research analysts predict that Praxair, Inc. (NYSE:PX) will post earnings per share of $1.45 for the current quarter, Zacks reports. Four analysts have provided estimates for Praxair’s earnings, with estimates ranging from $1.42 to $1.49. Praxair reported earnings per share of $1.41 in the same quarter last year, which suggests a positive year over year growth rate of 2.8%. The business is scheduled to announce its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Praxair will report full year earnings of $5.73 per share for the current fiscal year, with EPS estimates ranging from $5.65 to $5.87. For the next year, analysts anticipate that the firm will report earnings of $6.23 per share, with EPS estimates ranging from $5.99 to $6.65. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Praxair.
Praxair (NYSE:PX) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the company earned $1.39 earnings per share. Praxair’s revenue was up 6.3% on a year-over-year basis.
PX has been the topic of several research analyst reports. BidaskClub downgraded Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded Praxair from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Susquehanna Bancshares Inc upgraded Praxair from a “neutral” rating to a “positive” rating and boosted their price target for the company from $131.00 to $155.00 in a research note on Thursday. Jefferies Group LLC reiterated a “buy” rating and set a $162.00 price target on shares of Praxair in a research note on Wednesday, June 21st. Finally, UBS AG upgraded Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $136.82.
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Praxair (PX) traded up 0.17% on Friday, reaching $132.46. The company’s stock had a trading volume of 807,718 shares. The firm’s 50 day moving average price is $131.56 and its 200-day moving average price is $127.46. Praxair has a 1-year low of $114.43 and a 1-year high of $138.69. The company has a market capitalization of $37.89 billion, a price-to-earnings ratio of 25.33 and a beta of 0.93.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be issued a $0.7875 dividend. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.38%. Praxair’s payout ratio is 58.88%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its holdings in Praxair by 19.1% in the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 123 shares during the period. BB&T Investment Services Inc. acquired a new position in Praxair in the 2nd quarter worth about $106,000. Exane Derivatives acquired a new position in Praxair in the 2nd quarter worth about $109,000. Tortoise Investment Management LLC raised its holdings in Praxair by 3.9% in the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 31 shares during the period. Finally, Sandy Spring Bank raised its holdings in Praxair by 31.2% in the 1st quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 200 shares during the period. 85.34% of the stock is owned by 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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