Ex-Dividend Stocks: Praxair, Lear

Praxair

The process gases company reported on April 25 first-quarter earnings of $419 million, or $1.38 a share, up from year-earlier earnings of $398 million, or $1.29 a share.

"Praxair trades at 19.1x 2012E EPS," Jefferies analysts wrote in a May 14 report. "A 20x P/E multiple on 2013E supports our $134 price target, based on a blend of our peak and mid-cycle valuation models. Key risk: competitor behavior disrupting supply/demand balances."

Forward Annual Dividend Yield: 2%

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Lear

The automotive seat systems company on May 3 reported earnings of $134.1 million, or $1.32 a share, down from year-earlier earnings of $156 million, or $1.44 a share.

"In our view, LEA remains a fundamentally undervalued name, with a strong new business backlog, [about] $300 in expected FCF per year through 2014, and continued share buyback activity," Credit Suisse analysts wrote in a May 4 report. "And while consensus estimates for LEA (like GM itself) probably have to come down for 2Q12, current valuation offers more than enough protection, with the stock trading at 3.5x 2012 EV/EBITDA vs the group at 5.7x. We maintain our Outperform rating."

Forward Annual Dividend Yield: 1.4%

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