Praxair, Inc. (NYSE:PX) – Investment analysts at Seaport Global Securities cut their Q3 2018 earnings per share (EPS) estimates for Praxair in a report issued on Wednesday, October 17th. Seaport Global Securities analyst M. Harrison now forecasts that the basic materials company will post earnings per share of $1.67 for the quarter, down from their prior forecast of $1.70. Seaport Global Securities has a “Hold” rating and a $175.00 price target on the stock. Seaport Global Securities also issued estimates for Praxair’s Q4 2018 earnings at $1.71 EPS, FY2018 earnings at $6.76 EPS, Q1 2019 earnings at $1.76 EPS, Q2 2019 earnings at $1.84 EPS, Q3 2019 earnings at $1.83 EPS, Q4 2019 earnings at $1.88 EPS and FY2019 earnings at $7.30 EPS.
Several other equities analysts have also recently issued reports on PX. BMO Capital Markets reiterated a “hold” rating and issued a $164.00 price objective on shares of Praxair in a research note on Tuesday, July 17th. Zacks Investment Research cut Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. JPMorgan Chase & Co. lifted their price objective on Praxair from $180.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. ValuEngine cut Praxair from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. Finally, Jefferies Financial Group reiterated a “$165.03” rating and issued a $194.00 price objective on shares of Praxair in a research note on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $175.38.
Shares of PX opened at $161.36 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.96 and a quick ratio of 0.78. The stock has a market capitalization of $45.95 billion, a PE ratio of 25.01, a P/E/G ratio of 1.90 and a beta of 1.08. Praxair has a 1 year low of $139.54 and a 1 year high of $169.75.
Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Praxair had a return on equity of 27.84% and a net margin of 11.68%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 EPS.
Several hedge funds and other institutional investors have recently modified their holdings of PX. Legacy Advisors LLC acquired a new position in Praxair during the third quarter worth approximately $253,000. TIAA FSB acquired a new position in Praxair during the third quarter worth approximately $1,630,000. James Hambro & Partners increased its position in Praxair by 55.7% during the third quarter. James Hambro & Partners now owns 18,720 shares of the basic materials company’s stock worth $3,009,000 after buying an additional 6,695 shares during the period. Aperio Group LLC increased its position in Praxair by 0.9% during the third quarter. Aperio Group LLC now owns 199,155 shares of the basic materials company’s stock worth $32,010,000 after buying an additional 1,699 shares during the period. Finally, BB&T Corp increased its position in Praxair by 9.3% during the third quarter. BB&T Corp now owns 5,989 shares of the basic materials company’s stock worth $962,000 after buying an additional 512 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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