Praxair (PX) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $1.39 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $1.36. The company posted revenue of $2665.00 million in the period, compared to analysts expectations of $2609.53 million. The company’s revenue was down -2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 EPS.
Many Wall Street Analysts have commented on Praxair. Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 120 from a previous price target of $112 .
Praxair closed down -1.23 points or -1.04% at $117.11 with 15,75,791 shares getting traded on Thursday. Post opening the session at $115.33, the shares hit an intraday low of $114.71 and an intraday high of $117.28 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on May 12, 2016, Eduardo F Menezes (Executive Vice President) sold 25,000 shares at $114.01 per share price. According to the SEC, on May 9, 2016, Robert L Wood (director) sold 6,550 shares at $114.34 per share price. On Jan 8, 2016, Stephen F Angel (CEO) purchased 5,000 shares at $97.80 per share price, according to the Form-4 filing with the securities and exchange commission.
Praxair Inc. (Praxair) is an industrial gas supplier in North and South America Asia and Europe. The Companys operations are organized into five segments four of which have been determined on a geographic basis of segmentation: North America Europe South America and Asia. In addition Praxair operates its surface technologies business through its wholly owned subsidiary Praxair Surface Technologies Inc. which represents the fifth segment. The Companys products in its industrial gases business include atmospheric gases (oxygen nitrogen argon rare gases) and process gases (carbon dioxide helium hydrogen electronic gases specialty gases acetylene). The company also designs engineers and builds equipment that produces industrial gases primarily for internal use. The companys surface technologies segment operated through Praxair Surface Technologies Inc. supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders.