Equities analysts expect Parker Hannifin (NYSE:PH) to post earnings of $2.62 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Parker Hannifin’s earnings, with the lowest EPS estimate coming in at $2.53 and the highest estimate coming in at $2.69. Parker Hannifin reported earnings per share of $2.11 in the same quarter last year, which indicates a positive year over year growth rate of 24.2%. The company is expected to announce its next earnings report before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that Parker Hannifin will report full year earnings of $9.99 per share for the current fiscal year, with EPS estimates ranging from $9.88 to $10.05. For the next fiscal year, analysts forecast that the business will report earnings of $11.54 per share, with EPS estimates ranging from $11.30 to $11.81. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Parker Hannifin.
Parker Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.08. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Parker Hannifin had a return on equity of 23.15% and a net margin of 6.54%. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.91 earnings per share.
A number of research analysts have issued reports on the company. Wells Fargo lifted their price objective on Parker Hannifin from $205.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Zacks Investment Research raised Parker Hannifin from a “hold” rating to a “buy” rating and set a $236.00 target price for the company in a report on Thursday, January 18th. Buckingham Research reissued a “neutral” rating and issued a $210.00 target price on shares of Parker Hannifin in a report on Friday, January 19th. They noted that the move was a valuation call. Stifel Nicolaus reissued a “buy” rating and issued a $245.00 target price (up previously from $218.00) on shares of Parker Hannifin in a report on Tuesday, January 16th. Finally, Cowen reissued a “hold” rating and issued a $180.00 target price on shares of Parker Hannifin in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $201.44.
In other Parker Hannifin news, VP Roger S. Sherrard sold 2,109 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $182.12, for a total transaction of $384,091.08. Following the completion of the sale, the vice president now owns 51,865 shares of the company’s stock, valued at $9,445,653.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Scaminace sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $184.97, for a total value of $184,970.00. The disclosure for this sale can be found here. Insiders have sold 4,258 shares of company stock valued at $780,753 in the last three months. 1.12% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Chemical Bank bought a new stake in Parker Hannifin during the fourth quarter valued at about $206,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Parker Hannifin by 11.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 4,164 shares of the industrial products company’s stock valued at $831,000 after acquiring an additional 411 shares in the last quarter. Wagner Wealth Management LLC purchased a new position in shares of Parker Hannifin in the fourth quarter valued at about $198,000. Xact Kapitalforvaltning AB lifted its position in shares of Parker Hannifin by 7.5% in the fourth quarter. Xact Kapitalforvaltning AB now owns 24,909 shares of the industrial products company’s stock valued at $4,971,000 after acquiring an additional 1,745 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Parker Hannifin by 37.0% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 115,166 shares of the industrial products company’s stock valued at $22,985,000 after acquiring an additional 31,087 shares in the last quarter. 81.63% of the stock is owned by institutional investors and hedge funds.
NYSE:PH traded up $1.95 during trading hours on Thursday, reaching $176.47. 683,170 shares of the company traded hands, compared to its average volume of 1,126,099. The stock has a market capitalization of $22,948.20, a price-to-earnings ratio of 21.80, a PEG ratio of 1.48 and a beta of 1.42. Parker Hannifin has a 1 year low of $151.17 and a 1 year high of $212.80. The company has a current ratio of 1.49, a quick ratio of 0.99 and a debt-to-equity ratio of 0.87.
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About Parker Hannifin
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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