FY2017 EPS Estimates for Praxair, Inc. (PX) Boosted by SunTrust Banks

Praxair, Inc. (NYSE:PX) – Research analysts at SunTrust Banks raised their FY2017 earnings per share (EPS) estimates for shares of Praxair in a note issued to investors on Thursday. SunTrust Banks analyst J. Sheehan now expects that the basic materials company will earn $5.82 per share for the year, up from their previous forecast of $5.75. SunTrust Banks has a “Buy” rating and a $162.00 price target on the stock. SunTrust Banks also issued estimates for Praxair’s FY2018 earnings at $6.27 EPS.

Other equities research analysts have also recently issued research reports about the company. Jefferies Group LLC restated a “buy” rating and set a $162.00 price objective on shares of Praxair in a report on Thursday, October 19th. BidaskClub upgraded Praxair from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded Praxair from a “sell” rating to a “buy” rating and set a $148.00 price objective for the company in a report on Monday, July 31st. UBS AG boosted their price objective on Praxair from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Friday. Finally, Citigroup Inc. upgraded Praxair from a “neutral” rating to a “buy” rating in a report on Monday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $143.92.

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Shares of Praxair (NYSE PX) opened at 147.45 on Monday. Praxair has a 52 week low of $114.43 and a 52 week high of $149.91. The company’s 50-day moving average price is $140.30 and its 200 day moving average price is $133.38. The company has a market cap of $42.17 billion, a P/E ratio of 27.61 and a beta of 0.95.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be paid a $0.7875 dividend. This represents a $3.15 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Wednesday, December 6th. Praxair’s dividend payout ratio (DPR) is currently 56.05%.

Several hedge funds have recently modified their holdings of the stock. ARGI Investment Services LLC boosted its stake in shares of Praxair by 0.3% in the first quarter. ARGI Investment Services LLC now owns 2,007 shares of the basic materials company’s stock valued at $238,000 after buying an additional 6 shares during the period. Guardian Life Insurance Co. of America boosted its stake in shares of Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock valued at $131,000 after buying an additional 8 shares during the period. Capital Management Corp VA boosted its stake in shares of Praxair by 0.6% in the second quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock valued at $248,000 after buying an additional 11 shares during the period. Salem Investment Counselors Inc. boosted its stake in shares of Praxair by 0.5% in the second quarter. Salem Investment Counselors Inc. now owns 2,418 shares of the basic materials company’s stock valued at $321,000 after buying an additional 13 shares during the period. Finally, Lcnb Corp boosted its stake in shares of Praxair by 0.4% in the first quarter. Lcnb Corp now owns 3,892 shares of the basic materials company’s stock valued at $461,000 after buying an additional 15 shares during the period. Institutional investors and hedge funds own 85.33% of the company’s stock.

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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