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Company Update: Praxair Inc (NYSE:PX) – Praxair Builds Density through Acquisition of Industrial and Medical Gas Businesses

[Business Wire] – Praxair, Inc. announced today that it has acquired five industrial gas businesses, which had combined 2015 annual sales of more than $40 million. With these acquisitions, Praxair is growing geographic density and strengthening its ability to efficiently supply customers. Read more on this. Praxair Inc. (PX) , valued at $33.90B, began trading this morning at $119.23. Today, shares have traded between $118.79 and $120.04 per share with the price of the stock fluctuating between $95.60 to $124.99 over the last 52 weeks. PX shares are currently priced at 21.53x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.89x earnings multiple. The company pays shareholders $3.00 per share in dividend income per year, for a current yield of 2.52%. According to a consensus of 19 analysts, the earnings estimate of $1.27 per share would be $0.16 worse than the year-ago quarter and a $0.15 sequential decrease. Investors should also note that the full-year EPS estimate of $5.54 is a $0.26 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.49 Billion. If realized, 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. The average price target for PX shares is $113.28, which is 4.99% 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 CEO to Present at Barclays Industrial Select Conference Company Update: Praxair Inc (NYSE:PX) – Praxair to Unveil New Robotic Cutting System at FABTECH 2015
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