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.
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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