Parker-Hannifin (PH) Scheduled to Post Earnings on Thursday

Parker-Hannifin (NYSE:PH) is set to release its earnings data before the market opens on Thursday, May 2nd. Analysts expect Parker-Hannifin to post earnings of $6.10 per share for the quarter. Parker-Hannifin has set its FY24 guidance at $23.90-24.50 EPS and its FY 2024 guidance at 23.900-24.500 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. The business had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.76 EPS. On average, analysts expect Parker-Hannifin to post $24 EPS for the current fiscal year and $26 EPS for the next fiscal year.

Parker-Hannifin Stock Performance

PH opened at $546.35 on Thursday. The stock has a market cap of $70.16 billion, a P/E ratio of 27.05, a P/E/G ratio of 1.98 and a beta of 1.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The stock’s 50 day simple moving average is $542.05 and its 200 day simple moving average is $476.11. Parker-Hannifin has a 1-year low of $309.89 and a 1-year high of $570.15.

Insider Activity

In other news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Insiders sold a total of 12,079 shares of company stock valued at $6,099,566 over the last quarter. Company insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PH. Evercore ISI upped their price target on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. KeyCorp raised their price target on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. The Goldman Sachs Group reissued a “buy” rating and set a $551.00 price target on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Finally, Truist Financial initiated coverage on Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 price target for the company. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $515.38.

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 through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.