Seaport Global Securities Comments on Praxair, Inc.’s FY2017 Earnings (PX)
Praxair, Inc. (NYSE:PX) – Research analysts at Seaport Global Securities decreased their FY2017 earnings per share (EPS) estimates for shares of Praxair in a research report issued on Wednesday. Seaport Global Securities analyst M. Harrison now forecasts that the basic materials company will earn $5.69 per share for the year, down from their prior forecast of $5.72. Seaport Global Securities also issued estimates for Praxair’s Q4 2018 earnings at $1.55 EPS and FY2018 earnings at $6.16 EPS.
A number of other research firms have also weighed in on PX. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Susquehanna Bancshares Inc raised shares of Praxair from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $131.00 to $155.00 in a research report on Thursday, September 7th. UBS AG raised shares of Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. Jefferies Group LLC reissued a “buy” rating and set a $162.00 target price on shares of Praxair in a research report on Thursday. Finally, BidaskClub lowered shares of Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $138.00.
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Shares of Praxair (NYSE:PX) opened at 143.14 on Friday. The company has a 50-day moving average price of $138.13 and a 200 day moving average price of $132.02. Praxair has a one year low of $114.43 and a one year high of $143.14. The firm has a market capitalization of $40.94 billion, a P/E ratio of 26.81 and a beta of 0.95.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the firm earned $1.39 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year.
Large investors have recently bought and sold shares of the company. Kistler Tiffany Companies LLC increased its holdings in shares of Praxair by 149.8% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 430 shares during the period. Parallel Advisors LLC increased its holdings in shares of Praxair by 19.1% during 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. bought a new position in shares of Praxair during the 2nd quarter worth about $106,000. Exane Derivatives bought a new position in shares of Praxair during the 2nd quarter worth about $109,000. Finally, Tortoise Investment Management LLC increased its holdings in shares of Praxair by 3.9% during 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. Institutional investors own 85.30% of the company’s stock.
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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