Praxair, Inc. (NYSE:PX) – Equities researchers at KeyCorp raised their FY2017 earnings per share (EPS) estimates for Praxair in a research report issued to clients and investors on Sunday. KeyCorp analyst M. Sison now anticipates that the basic materials company will post earnings of $5.80 per share for the year, up from their prior forecast of $5.65. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Praxair’s Q4 2017 earnings at $1.47 EPS.
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 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 company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. WARNING: This article was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://sportsperspectives.com/2017/11/02/brokers-offer-predictions-for-praxair-inc-s-fy2017-earnings-px.html.
Other equities research analysts have also issued research reports about the company. SunTrust Banks, Inc. reissued a “buy” rating and set a $162.00 target price on shares of Praxair in a research report on Friday, October 27th. Jefferies Group LLC reissued a “buy” rating and set a $162.00 target price on shares of Praxair in a research report on Thursday, October 19th. Zacks Investment Research raised Praxair from a “sell” rating to a “buy” rating and set a $148.00 target price on the stock in a research report on Monday, July 31st. BidaskClub raised Praxair from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, UBS AG raised their target price on Praxair from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Praxair has a consensus rating of “Hold” and a consensus target price of $145.77.
Several hedge funds have recently made changes to their positions in PX. BlackRock Inc. lifted its holdings in shares of Praxair by 2,091.9% in the 1st quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after buying an additional 16,839,374 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Praxair by 287.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock valued at $185,099,000 after buying an additional 1,158,100 shares during the period. CI Global Investments Inc. lifted its holdings in shares of Praxair by 141.4% in the 2nd quarter. CI Global Investments Inc. now owns 1,933,777 shares of the basic materials company’s stock valued at $256,322,000 after buying an additional 1,132,606 shares during the period. Capital World Investors lifted its holdings in shares of Praxair by 4.3% in the 2nd quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock valued at $2,297,403,000 after buying an additional 716,835 shares during the period. Finally, PointState Capital LP acquired a new stake in shares of Praxair in the 2nd quarter valued at approximately $76,481,000. Institutional investors own 85.33% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be paid a $0.7875 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.16%. Praxair’s dividend payout ratio (DPR) is currently 56.05%.
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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