Market Update: Praxair Inc (NYSE:PX) – Praxair Signs Long-Term Contract with Total and Further Expands Pipeline Network in the Port of Antwerp

[Business Wire] – Praxair, Inc. today announced it has signed a 15-year contract to supply oxygen and nitrogen to Total in the Port of Antwerp. Total, a global integrated energy producer and provider and leading international oil and gas company, is currently investing one billion euro in the port to upgrade its largest refining and petrochemicals platform in Europe. Read more on this. Praxair Inc. (PX) , with a current value of $27.81B, opened this morning at $96.52. Shares have traded today between $95.94 and $97.87 per share with its 52-week range being $95.94 to $130.38. Praxair (PX) shares are currently priced at 16.57x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 10.42x earnings multiple for the same period. The company pays shareholders $2.86 per share in dividend income per year, for a current yield of 2.92%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $1.47 per share, which would be $0.10 worse than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $5.80 which would be a $0.47 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.66 Billion. If realized, that would be a 11.04% 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. Given all the information above, we should disclose to readers that the average price target is $118.32, which is 22.59% above than it opened this morning. See more in (NYSE:PX) Similar Articles: Market Update: Praxair Inc (NYSE:PX) – Praxair Expands Presence in South Carolina Company Update: Praxair Inc (NYSE:PX) – Praxair Expands Production Capacity in Utah to Meet Regional Demand Company Update: Praxair Inc (NYSE:PX) – Praxair Signs Long-Term Helium Purchase Agreement