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Praxair Unit Wins Rolls-Royce's 10-year Coating Contract
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Industrial gas producer and supplier, Praxair Inc. (PX - Free Report) announced that it has won a 10-year contract to provide its Tribomet™ abrasive coatings to Indiana-based aerospace producer, Rolls-Royce. Financial terms of the deal have been kept under wraps.
We believe such contracts reflect customers’ preference for Praxair’s products and will prove beneficial for its growth, going forward. The company had a solid backlog of $1.5 billion at the end of fourth-quarter 2016. Despite such bright prospects, we believe that exposure to near-term headwinds will weigh on its performance in the quarters ahead. Over the last one month, shares of this Zacks Rank #3 (Hold) company lost 1.32%, narrower than the decline of 1.44% recorded by the Zacks categorized Chemical Diversified industry.
As revealed, Praxair secured the contract through its Praxair Surface Technologies (PST) subsidiary. The business arm specializes in providing high-performance coatings and technologies to its customers in the aviation, energy and other industries. Per the Rolls-Royce contract, PST will provide its coating services to rotating components in jet engines of wide-body aircraft. This will help in lowering frictional heating as well as improving fuel efficiency and component life.
Praxair anticipates starting the contract in mid-2017.
Arkema’s earnings estimates for 2017 improved over the past 60 days.
Kronos Worldwide’s estimates for 2017 increased over the past 60 days. It recorded an average positive earnings surprise of 72.01% for the last four quarters.
Mitsubishi Chemical Holdings witnessed positive revisions in earnings estimates for fiscal 2017 and fiscal 2018, over the past 60 days.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
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Praxair Unit Wins Rolls-Royce's 10-year Coating Contract
Industrial gas producer and supplier, Praxair Inc. (PX - Free Report) announced that it has won a 10-year contract to provide its Tribomet™ abrasive coatings to Indiana-based aerospace producer, Rolls-Royce. Financial terms of the deal have been kept under wraps.
We believe such contracts reflect customers’ preference for Praxair’s products and will prove beneficial for its growth, going forward. The company had a solid backlog of $1.5 billion at the end of fourth-quarter 2016. Despite such bright prospects, we believe that exposure to near-term headwinds will weigh on its performance in the quarters ahead. Over the last one month, shares of this Zacks Rank #3 (Hold) company lost 1.32%, narrower than the decline of 1.44% recorded by the Zacks categorized Chemical Diversified industry.
As revealed, Praxair secured the contract through its Praxair Surface Technologies (PST) subsidiary. The business arm specializes in providing high-performance coatings and technologies to its customers in the aviation, energy and other industries. Per the Rolls-Royce contract, PST will provide its coating services to rotating components in jet engines of wide-body aircraft. This will help in lowering frictional heating as well as improving fuel efficiency and component life.
Praxair anticipates starting the contract in mid-2017.
Praxair, Inc. Price and Consensus
Praxair, Inc. Price and Consensus | Praxair, Inc. Quote
Stocks to Consider
Praxair currently has a market capitalization of $33.9 billion.
Some better-ranked stocks in the chemical industry include Arkema S.A. (ARKAY - Free Report) , Kronos Worldwide, Inc. (KRO - Free Report) and Mitsubishi Chemical Holdings Corporation (MTLHY - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arkema’s earnings estimates for 2017 improved over the past 60 days.
Kronos Worldwide’s estimates for 2017 increased over the past 60 days. It recorded an average positive earnings surprise of 72.01% for the last four quarters.
Mitsubishi Chemical Holdings witnessed positive revisions in earnings estimates for fiscal 2017 and fiscal 2018, over the past 60 days.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>