Jefferies Group Comments on Praxair, Inc.’s Q4 2017 Earnings (PX)
Praxair, Inc. (NYSE:PX) – Stock analysts at Jefferies Group upped their Q4 2017 earnings per share estimates for shares of Praxair in a note issued to investors on Thursday. Jefferies Group analyst L. Alexander now expects that the basic materials company will post earnings per share of $1.47 for the quarter, up from their prior estimate of $1.41. Jefferies Group currently has a “Buy” rating and a $162.00 price target on the stock.
Praxair (NYSE:PX) last posted its earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. The firm had revenue of $2.92 billion during 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%. Praxair’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 EPS.
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A number of other brokerages have also recently issued reports on PX. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Susquehanna Bancshares Inc upgraded shares of Praxair from a “neutral” rating to a “positive” rating and increased their target price for the stock from $131.00 to $155.00 in a research report on Thursday, September 7th. UBS AG upgraded shares of Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. BidaskClub cut shares of Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Barclays PLC increased their target price on shares of Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $145.77.
Praxair (PX) traded down 0.35% on Monday, reaching $146.93. 125,306 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $140.30 and a 200-day moving average of $133.38. Praxair has a 12 month low of $114.43 and a 12 month high of $149.91. The firm has a market capitalization of $42.03 billion, a price-to-earnings ratio of 27.51 and a beta of 0.95.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders 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 of this dividend is Wednesday, December 6th. Praxair’s dividend payout ratio (DPR) is presently 56.05%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Kistler Tiffany Companies LLC boosted its stake in shares of Praxair by 149.8% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 430 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Praxair by 19.1% in the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 123 shares during the last quarter. BB&T Investment Services Inc. bought a new position in shares of Praxair in the 2nd quarter valued at about $106,000. Exane Derivatives bought a new position in shares of Praxair in the 2nd quarter valued at about $109,000. Finally, Tortoise Investment Management LLC boosted its stake in shares of Praxair by 3.9% in the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 31 shares during the last quarter. 85.33% of the stock is currently 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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