NEW YORK (TheStreet) -- Shares of Praxair (PX) were retreating at the start of trading on Thursday after the company reported in-line results for the 2016 third quarter and gave a disappointing outlook.

Before the market open, the Danbury, CT-based industrial gas supplier reported adjusted earnings of $1.41 per diluted share on revenue of $2.7 billion, which met Wall Street's projections.

For the fourth quarter, Praxair sees earnings per diluted share between $1.36 and $1.43, below analysts' estimates. Wall Street is looking for earnings of $1.46 per share for the current period.

Adjusted full-year earnings per share are expected to be between $5.44 and $5.51, while analysts are projecting $5.52 per share.

"As anticipated, the third quarter continued to experience mixed results in end-market trends with strong demand in more resilient food, beverage and healthcare markets, but persistent weakness from industrial sectors like manufacturing and upstream energy," CEO Steve Angel said in a statement.

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Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.

The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, expanding profit margins, good cash flow from operations and notable return on equity.

The team believes its strengths outweigh the fact that the company has had generally high debt management risk by most measures that were evaluated.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: PX

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