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Company Update: Praxair Inc (NYSE:PX) – Praxair Announces Price Increases Effective July 15, 2016

[Business Wire] – Praxair, Inc. is notifying bulk industrial gas and medical gas customers in the United States and its territories of price increases of up to 15% for nitrogen, oxygen, argon, hydrogen, helium and carbon dioxide effective July 15, 2016, or as contracts permit. Read more on this. Praxair Inc. (PX) , with a current market cap of $32.11B, began trading this morning at $112.52. Today’s price range has been between $112.04 and $112.57 per share with the price of the stock fluctuating between $95.60 to $120.04 over the last 52 weeks. Priced at 20.21x this year’s forecasted earnings, PX shares are relatively expensive compared to the industry’s 16.61x forward p/e ratio. And for income investors, the company pays shareholders $3.00 per share annually in dividends, yielding 2.77%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $1.36 per share, which would be $0.09 worse than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $5.56 is a $0.24 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.60 Billion. If reported, that would be a 5.11% decrease over the year-ago quarter. More 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 by the analysts covering the stock is $118.67, which is 5.47% above where the stock opened this morning. See more in (NYSE:PX) Similar Articles: Market Update: Praxair Inc (NYSE:PX) – Praxair Reports First-Quarter 2016 Results Company Update: Praxair Inc (NYSE:PX) – Praxair Builds Density through Acquisition of Industrial and Medical Gas Businesses Company Update (NYSE:PX): Praxair Announces First Quarter 2016 Earnings and Conference Call Schedule
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