$3.04 Billion in Sales Expected for Praxair, Inc. (PX) This Quarter

Wall Street brokerages expect that Praxair, Inc. (NYSE:PX) will report $3.04 billion in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Praxair’s earnings. The lowest sales estimate is $3.02 billion and the highest is $3.08 billion. Praxair reported sales of $2.92 billion in the same quarter last year, which indicates a positive year over year growth rate of 4.1%. The business is expected to report its next earnings report on Thursday, October 25th.

According to Zacks, analysts expect that Praxair will report full year sales of $12.19 billion for the current year, with estimates ranging from $12.12 billion to $12.28 billion. For the next financial year, analysts forecast that the business will post sales of $12.87 billion, with estimates ranging from $12.68 billion to $13.02 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Praxair.

Praxair (NYSE:PX) last released its earnings results 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. Praxair had a return on equity of 27.84% and a net margin of 11.68%. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the firm earned $1.46 EPS. The firm’s revenue was up 8.0% on a year-over-year basis.

Several equities analysts recently issued reports on the company. Seaport Global Securities reissued a “hold” rating and issued a $175.00 target price on shares of Praxair in a research report on Tuesday, August 7th. Jefferies Financial Group reissued a “$165.03” rating and issued a $194.00 target price on shares of Praxair in a research report on Wednesday, July 18th. Zacks Investment Research downgraded Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, June 19th. ValuEngine downgraded Praxair from a “buy” rating to a “hold” rating in a research report on Thursday, June 21st. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $164.00 price target on shares of Praxair in a research report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Praxair currently has a consensus rating of “Buy” and a consensus price target of $175.38.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. United Services Automobile Association grew its position in Praxair by 62.5% during the 2nd quarter. United Services Automobile Association now owns 218,132 shares of the basic materials company’s stock worth $34,498,000 after purchasing an additional 83,935 shares during the period. Royal London Asset Management Ltd. acquired a new stake in Praxair during the 2nd quarter worth about $18,528,000. Exane Asset Management acquired a new stake in Praxair during the 2nd quarter worth about $3,857,000. Public Employees Retirement System of Ohio boosted its stake in shares of Praxair by 0.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 204,040 shares of the basic materials company’s stock worth $32,269,000 after acquiring an additional 1,005 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Praxair during the 2nd quarter worth about $265,000. 86.27% of the stock is currently owned by institutional investors.

NYSE PX opened at $168.87 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.78 and a current ratio of 0.96. Praxair has a 1 year low of $139.24 and a 1 year high of $169.10. The firm has a market capitalization of $46.22 billion, a P/E ratio of 28.87, a PEG ratio of 1.91 and a beta of 1.08.

Praxair Company Profile

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.

Further Reading: How to Invest in the Dividend Aristocrat Index

Get a free copy of the Zacks research report on Praxair (PX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Praxair (NYSE:PX)

Receive News & Ratings for Praxair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply