Wall Street brokerages predict that Parker-Hannifin Corp (NYSE:PH) will announce earnings per share (EPS) of $2.29 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Parker-Hannifin’s earnings, with the highest EPS estimate coming in at $2.46 and the lowest estimate coming in at $2.20. Parker-Hannifin reported earnings per share of $2.51 during the same quarter last year, which would suggest a negative year-over-year growth rate of 8.8%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, January 30th.
According to Zacks, analysts expect that Parker-Hannifin will report full-year earnings of $10.79 per share for the current year, with EPS estimates ranging from $10.50 to $11.60. For the next year, analysts anticipate that the business will post earnings of $11.81 per share, with EPS estimates ranging from $10.85 to $12.35. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Parker-Hannifin.
Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.12. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Parker-Hannifin had a net margin of 10.41% and a return on equity of 25.74%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $2.84 earnings per share.
Several research firms have issued reports on PH. Wolfe Research set a $189.00 price objective on shares of Parker-Hannifin and gave the company a “hold” rating in a research report on Friday, November 1st. Goldman Sachs Group upgraded shares of Parker-Hannifin from a “sell” rating to a “buy” rating and upped their price target for the company from $180.00 to $230.00 in a research note on Tuesday, December 10th. ValuEngine raised shares of Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Morgan Stanley increased their target price on shares of Parker-Hannifin from $193.00 to $209.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Gordon Haskett upgraded shares of Parker-Hannifin from an “underperform” rating to a “hold” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $203.46.
PH stock opened at $207.00 on Tuesday. Parker-Hannifin has a 12 month low of $152.18 and a 12 month high of $212.05. The company has a current ratio of 1.96, a quick ratio of 1.53 and a debt-to-equity ratio of 1.21. The company has a 50-day moving average price of $205.61 and a 200 day moving average price of $184.71. The stock has a market cap of $26.59 billion, a PE ratio of 18.37, a P/E/G ratio of 2.10 and a beta of 1.57.
In other news, EVP Mark J. Hart sold 917 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $190.31, for a total transaction of $174,514.27. Following the completion of the sale, the executive vice president now owns 14,719 shares in the company, valued at $2,801,172.89. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Andrew D. Ross sold 1,939 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $193.82, for a total value of $375,816.98. Following the completion of the sale, the vice president now owns 24,039 shares of the company’s stock, valued at approximately $4,659,238.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,427 shares of company stock worth $2,263,771. Company insiders own 1.23% of the company’s stock.
Several hedge funds have recently bought and sold shares of PH. Private Capital Group LLC lifted its position in shares of Parker-Hannifin by 126.3% in the second quarter. Private Capital Group LLC now owns 172 shares of the industrial products company’s stock valued at $27,000 after buying an additional 96 shares during the last quarter. Hoey Investments Inc. bought a new position in Parker-Hannifin during the 4th quarter worth $36,000. Quest Capital Management Inc. ADV acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $32,000. CWM LLC boosted its holdings in shares of Parker-Hannifin by 34.4% during the 3rd quarter. CWM LLC now owns 293 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 75 shares in the last quarter. Finally, Bourgeon Capital Management LLC acquired a new position in Parker-Hannifin during the 3rd quarter worth about $54,000. 80.18% of the stock is owned by institutional investors.
Parker-Hannifin Company Profile
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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