Market Update: Praxair Inc (NYSE:PX) – Praxair Combines Joint Venture Operations in Southeastern US

[Business Wire] – Praxair Distribution, Inc. , a subsidiary of Praxair, Inc. , announced its two joint venture companies operating in the southeastern U.S. have merged. Financial terms of the transaction were not disclosed. Read more on this. Praxair Inc. (PX) , valued at $28.78B, opened this morning at $101.03. Today’s price range has been between $100.52 and $101.69 per share and has traded between $98.55 and $130.38 over the past 12 months. PX shares are currently priced at 17.66x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 11.71x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $2.86 per share annually in dividends, yielding 2.79%. According to a consensus of 18 analysts, the earnings estimate of $1.47 per share would be $0.10 worse than the year-ago quarter and a $0.03 sequential decrease. The full-year EPS estimate is $5.80 which would be a $0.47 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.67 Billion. If realized, that would be a 10.70% decrease over the year-ago quarter. More recently, Global Hunter Securities Initiated PX at Neutral (Jun 4, 2015). Previously, Robert W. Baird downgraded PX from Outperform to Neutral. Given all the information above, we should disclose to readers that the average price target is $122.00, which is 20.76% above than it opened this morning. See more in (NYSE:PX) Similar Articles: Market Update: Praxair Inc (NYSE:PX) – Praxair Named to Dow Jones Sustainability Indices for 13th Consecutive Year Market Update: Praxair Inc (NYSE:PX) – Praxair Prices $750 Million Notes Market Update: Praxair Inc (NYSE:PX) – Praxair Reports Second-Quarter 2015 Results