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Market Update: Praxair Inc (NYSE:PX) – Praxair Signs Contracts to Install OPTIMELTTM and Oxygen Supply Systems with Leading Glassmaker

[Business Wire] – Praxair, Inc. today announced it has signed a contract with Libbey, one of the largest glassware and tableware manufacturers globally, to supply it with Praxair’s OPTIMELTTM thermochemical regenerator system. Read more on this. Praxair Inc. (PX) , valued at $32.54B, started the session at $112.98. Shares have traded today between $112.36 and $114.42 per share with a trailing 52-week range being $95.60 to $124.99. Priced at 20.35x this year’s forecasted earnings, PX shares are relatively expensive compared to the industry’s 15.47x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $3.00 per share annually in dividends, yielding 2.67%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $1.27 per share, which would be $0.16 worse than the year-ago quarter and a $0.16 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $5.54 would be a $0.26 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.49 Billion. If reported, that would be a 9.78% decrease over the year-ago quarter. Recently, Deutsche Bank downgraded PX from Buy to Hold (Apr 4, 2016). Previously, KeyBanc Capital Mkts downgraded PX from Overweight to Sector Weight. When considering if the stock is under or overvalued, the average price target is $111.72, which is 1.12% below where the stock opened this morning. See more in (NYSE:PX) Similar Articles: Market Update: Praxair Inc (NYSE:PX) – Praxair Acquires NOxBOX Ltd, a Leading Developer of Inhaled Nitric Oxide Delivery and Monitoring Systems Market Update: Praxair Inc (NYSE:PX) – Praxair Signs Long-Term Contract with Total and Further Expands Pipeline Network in the Port of Antwerp Market Update: Praxair Inc (NYSE:PX) – Praxair Combines Joint Venture Operations in Southeastern US
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