The Praxair, Inc. (PX) Issues FY17 Earnings Guidance

The Praxair, Inc. (PX) Issues FY17 Earnings Guidance

Praxair, Inc. (NYSE:PX) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of $5.78-2.83 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.73.

A number of research firms have recently issued reports on PX. BidaskClub downgraded Praxair from a buy rating to a hold rating in a research report on Tuesday, July 25th. Jefferies Group LLC reissued a buy rating and set a $162.00 price target on shares of Praxair in a research report on Thursday, October 19th. Zacks Investment Research downgraded Praxair from a hold rating to a sell rating in a research report on Friday, October 20th. Finally, Susquehanna Bancshares Inc raised Praxair from a neutral rating to a positive rating and increased their price target for the stock from $131.00 to $155.00 in a research report on Thursday, September 7th. Three investment 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 company presently has a consensus rating of Hold and an average price target of $138.00.

Shares of Praxair, Inc. (NYSE:PX) traded up 4.355% during midday trading on Thursday, reaching $149.875. The company had a trading volume of 1,566,663 shares. The company has a market capitalization of $42.87 billion, a P/E ratio of 28.066 and a beta of 0.95. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $149.91. The company’s 50 day moving average price is $138.95 and its 200-day moving average price is $132.63.

Praxair (NYSE:PX) last released its earnings results on Wednesday, October 25th. The basic materials company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.06. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the firm posted $1.41 EPS. Praxair’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 2.19%. Praxair’s payout ratio is 58.88%.

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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