Market Update: Praxair Inc (NYSE:PX) – Praxair Expands Presence in South Carolina

[Business Wire] – Praxair, Inc. announced it has signed a long-term contract to provide nitrogen to Toray Carbon Fibers America, Inc., a U.S. subsidiary of Toray Industries, Inc. Read more on this. Praxair Inc. (PX) , with a current market cap of $27.92B, started trading this morning at $100.59. Looking at the equity, the company’s one day range is $97.55 to $102.32 with the price of the stock fluctuating between $97.33 to $130.38 over the last 52 weeks. PX shares are currently priced at 17.22x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 11.28x earnings multiple. And for passive income investors, the company pays shareholders $2.86 per share annually in dividends, yielding 2.92%. 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 $0.01 sequential decrease. The full-year EPS estimate is $5.80, which would be a $0.47 better than last year. 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, Seaport Global Securities upgraded PX from Neutral to Accumulate (Jan 13, 2016). Previously, Global Hunter Securities Initiated PX at to Neutral. When considering if the stock is under or overvalued, the average price target is $121.56, which is 20.85% above where the stock opened this morning. See more in (NYSE:PX) Similar Articles: Market Update: Praxair Inc (NYSE:PX) – Praxair Combines Joint Venture Operations in Southeastern US Company Update: Praxair Inc (NYSE:PX) – Praxair Expands Production Capacity in Utah to Meet Regional Demand Market Update: Praxair Inc (NYSE:PX) – Praxair Reports Second-Quarter 2015 Results