Parker-Hannifin (NYSE:PH) Releases FY 2022 Earnings Guidance

Parker-Hannifin (NYSE:PH) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $16.950-$17.650 for the period, compared to the Thomson Reuters consensus estimate of $16.900. The company issued revenue guidance of -.

Shares of PH stock traded down $3.98 during trading hours on Thursday, hitting $325.04. The company had a trading volume of 499,037 shares, compared to its average volume of 872,618. Parker-Hannifin has a 12 month low of $247.41 and a 12 month high of $334.98. The firm has a market capitalization of $41.77 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.14 and a beta of 1.74. The firm’s fifty day moving average is $303.62 and its 200 day moving average is $302.32. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.03 and a current ratio of 1.72.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, November 4th. The industrial products company reported $4.26 EPS for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.58. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.64 billion. Parker-Hannifin had a return on equity of 27.02% and a net margin of 12.60%. Parker-Hannifin’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.07 EPS. On average, sell-side analysts expect that Parker-Hannifin will post 16.94 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 3rd. Investors of record on Friday, November 12th will be given a dividend of $1.03 per share. The ex-dividend date is Wednesday, November 10th. This represents a $4.12 dividend on an annualized basis and a yield of 1.27%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 28.83%.

PH has been the topic of a number of research analyst reports. Wells Fargo & Company initiated coverage on Parker-Hannifin in a research report on Thursday, October 7th. They set an overweight rating and a $337.00 price target on the stock. KeyCorp increased their price target on Parker-Hannifin from $375.00 to $385.00 and gave the stock an overweight rating in a research report on Friday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on Parker-Hannifin from $314.00 to $327.00 and gave the stock a hold rating in a research report on Friday, November 5th. JPMorgan Chase & Co. began coverage on Parker-Hannifin in a report on Friday, September 10th. They set a neutral rating and a $300.00 price objective on the stock. Finally, Credit Suisse Group upped their price objective on Parker-Hannifin from $385.00 to $415.00 and gave the stock an outperform rating in a report on Friday, November 5th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Buy and an average price target of $356.06.

In other news, EVP Mark J. Hart sold 2,616 shares of the stock in a transaction on Friday, November 19th. The stock was sold at an average price of $333.40, for a total value of $872,174.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas L. Williams sold 23,496 shares of the firm’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $324.33, for a total value of $7,620,457.68. The disclosure for this sale can be found here. In the last three months, insiders sold 32,730 shares of company stock worth $10,678,810. 1.47% of the stock is currently owned by company insiders.

About Parker-Hannifin

Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. It operates through Diversified Industrial and Aerospace segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery, and equipment industries.

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Earnings History and Estimates for Parker-Hannifin (NYSE:PH)

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