Praxair Inc. (NYSE:PX) – Investment analysts at Seaport Global Securities lowered their Q2 2017 earnings per share (EPS) estimates for Praxair in a note issued to investors on Monday. Seaport Global Securities analyst M. Harrison now expects that the firm will post earnings per share of $1.55 for the quarter, down from their prior estimate of $1.57.
Several other research firms also recently commented on PX. TheStreet upgraded shares of Praxair from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Jefferies Group reaffirmed a “buy” rating and set a $140.00 price objective on shares of Praxair in a research report on Tuesday, August 16th. Zacks Investment Research cut shares of Praxair from a “hold” rating to a “sell” rating in a research report on Monday, October 3rd. Morgan Stanley began coverage on shares of Praxair in a research report on Tuesday, September 13th. They set an “equal weight” rating and a $125.00 price objective for the company. Finally, Citigroup Inc. lifted their price objective on shares of Praxair from $120.00 to $123.00 and gave the stock a “neutral” rating in a research report on Friday, July 15th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $118.57.
Shares of Praxair (NYSE:PX) traded up 1.05% during mid-day trading on Wednesday, hitting $119.73. The stock had a trading volume of 469,845 shares. The firm has a market cap of $34.15 billion, a PE ratio of 21.80 and a beta of 0.93. The stock’s 50-day moving average is $119.07 and its 200 day moving average is $116.14. Praxair has a 12 month low of $95.60 and a 12 month high of $125.00.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Praxair had a return on equity of 31.66% and a net margin of 15.09%. The firm earned $2.70 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the prior year, the business posted $1.45 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. acquired a new stake in shares of Praxair during the second quarter worth approximately $78,512,000. UBS Asset Management Americas Inc. boosted its stake in shares of Praxair by 80.4% in the second quarter. UBS Asset Management Americas Inc. now owns 1,457,556 shares of the company’s stock worth $163,816,000 after buying an additional 649,500 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Praxair by 32.8% in the second quarter. JPMorgan Chase & Co. now owns 2,111,368 shares of the company’s stock worth $237,295,000 after buying an additional 521,202 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Praxair by 719.0% in the second quarter. Riverhead Capital Management LLC now owns 576,596 shares of the company’s stock worth $64,803,000 after buying an additional 506,196 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Praxair by 103.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 874,505 shares of the company’s stock worth $98,286,000 after buying an additional 444,200 shares during the last quarter. 83.76% of the stock is owned by hedge funds and other institutional investors.
Praxair, Inc is an industrial gas supplier in North and South America, Asia and Europe. 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, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
Receive News & Ratings for Praxair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair Inc. and related companies with MarketBeat.com's FREE daily email newsletter.