KeyCorp Weighs in on Praxair’s Q1 2018 Earnings (PX)

Praxair (NYSE:PX) – KeyCorp issued their Q1 2018 earnings estimates for Praxair in a research note issued to investors on Wednesday, April 11th. KeyCorp analyst M. Sison anticipates that the basic materials company will post earnings of $1.55 per share for the quarter. KeyCorp also issued estimates for Praxair’s Q2 2018 earnings at $1.60 EPS, Q3 2018 earnings at $1.67 EPS and Q4 2018 earnings at $1.68 EPS.

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Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.04. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Praxair had a return on equity of 26.54% and a net margin of 10.90%.



A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut Praxair from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Deutsche Bank raised Praxair from a “hold” rating to a “buy” rating and lifted their price objective for the company from $155.00 to $175.00 in a report on Tuesday, December 19th. Raymond James Financial reissued an “outperform” rating on shares of Praxair in a report on Tuesday, January 23rd. UBS lowered Praxair from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, January 23rd. Finally, SunTrust Banks raised their target price on Praxair to $185.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $165.27.

Shares of NYSE PX opened at $151.20 on Monday. The firm has a market cap of $42,074.13, a price-to-earnings ratio of 25.85, a P/E/G ratio of 1.91 and a beta of 1.08. Praxair has a 52-week low of $117.43 and a 52-week high of $166.95. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.99 and a quick ratio of 0.81.

A number of hedge funds have recently made changes to their positions in the stock. Green Square Capital LLC increased its position in Praxair by 104.9% in the fourth quarter. Green Square Capital LLC now owns 5,143 shares of the basic materials company’s stock worth $796,000 after purchasing an additional 2,633 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Praxair by 47.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 9,183 shares of the basic materials company’s stock worth $1,420,000 after purchasing an additional 2,934 shares during the period. Xact Kapitalforvaltning AB increased its position in Praxair by 8.3% in the fourth quarter. Xact Kapitalforvaltning AB now owns 49,703 shares of the basic materials company’s stock worth $7,688,000 after purchasing an additional 3,807 shares during the period. Envestnet Asset Management Inc. increased its position in Praxair by 2.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 129,701 shares of the basic materials company’s stock worth $20,063,000 after purchasing an additional 3,197 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Praxair by 8.1% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 157,512 shares of the basic materials company’s stock worth $24,364,000 after purchasing an additional 11,822 shares during the period. Hedge funds and other institutional investors own 86.28% of the company’s stock.

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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.

Earnings History and Estimates for Praxair (NYSE:PX)

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