FY2018 EPS Estimates for Praxair, Inc. (PX) Boosted by Jefferies Group

Praxair, Inc. (NYSE:PX) – Equities researchers at Jefferies Group upped their FY2018 earnings estimates for shares of Praxair in a research note issued on Tuesday. Jefferies Group analyst L. Alexander now expects that the basic materials company will post earnings of $6.75 per share for the year, up from their previous estimate of $6.35. Jefferies Group has a “Buy” rating and a $186.00 price objective on the stock. Jefferies Group also issued estimates for Praxair’s FY2019 earnings at $7.25 EPS and FY2020 earnings at $7.90 EPS.

Several other brokerages have also commented on PX. Zacks Investment Research upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $176.00 price target on the stock in a research note on Friday. Deutsche Bank upgraded shares of Praxair from a “hold” rating to a “buy” rating and increased their price target for the company from $155.00 to $175.00 in a research note on Tuesday, December 19th. Barclays increased their price target on shares of Praxair from $140.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. SunTrust Banks reiterated a “buy” rating and issued a $162.00 price target on shares of Praxair in a research note on Friday, October 27th. Finally, UBS Group raised their target price on shares of Praxair to $176.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Praxair presently has a consensus rating of “Buy” and a consensus target price of $159.43.

Shares of Praxair (NYSE:PX) traded up $2.47 during trading on Thursday, reaching $159.97. 1,896,400 shares of the company’s stock traded hands, compared to its average volume of 1,464,000. The stock has a market capitalization of $46,180.00, a price-to-earnings ratio of 28.46, a P/E/G ratio of 2.17 and a beta of 1.00. Praxair has a one year low of $115.00 and a one year high of $161.34. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, December 7th were given a dividend of $0.7875 per share. The ex-dividend date of this dividend was Wednesday, December 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 1.97%. Praxair’s dividend payout ratio (DPR) is presently 56.05%.

In other news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the transaction, the director now directly owns 16,697 shares in the company, valued at $1,957,890.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Washington Trust Bank grew its position in Praxair by 3.8% in the 4th quarter. Washington Trust Bank now owns 31,114 shares of the basic materials company’s stock valued at $4,813,000 after buying an additional 1,151 shares during the last quarter. Neville Rodie & Shaw Inc. grew its position in Praxair by 43.7% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 8,359 shares of the basic materials company’s stock valued at $1,293,000 after buying an additional 2,540 shares during the last quarter. Atlantic Trust Group LLC grew its position in Praxair by 1.4% in the 3rd quarter. Atlantic Trust Group LLC now owns 910,983 shares of the basic materials company’s stock valued at $127,300,000 after buying an additional 12,173 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in Praxair by 7.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 978,952 shares of the basic materials company’s stock valued at $136,799,000 after buying an additional 67,095 shares during the last quarter. Finally, AXA grew its position in Praxair by 1.2% in the 3rd quarter. AXA now owns 247,036 shares of the basic materials company’s stock valued at $34,521,000 after buying an additional 2,987 shares during the last quarter. Hedge funds and other institutional investors own 85.48% of the company’s stock.

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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.

Earnings History and Estimates for Praxair (NYSE:PX)

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