Parker-Hannifin Corporation (PH) Releases FY18 Earnings Guidance

Parker-Hannifin Corporation (NYSE:PH) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $9.10-9.70 for the period, compared to the Thomson Reuters consensus estimate of $9.15.

Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.20. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the firm earned $1.61 EPS.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Thursday, November 9th. Parker-Hannifin Corporation’s payout ratio is currently 36.51%.

Several equities research analysts have recently issued reports on PH shares. BMO Capital Markets reissued a buy rating and set a $200.00 target price on shares of Parker-Hannifin Corporation in a research note on Friday, October 20th. ValuEngine raised shares of Parker-Hannifin Corporation from a hold rating to a buy rating in a research note on Friday, September 1st. Robert W. Baird reissued a hold rating and set a $183.00 target price on shares of Parker-Hannifin Corporation in a research note on Friday, October 13th. Cowen and Company reissued a hold rating and set a $140.00 target price on shares of Parker-Hannifin Corporation in a research note on Friday, October 6th. Finally, Zacks Investment Research raised shares of Parker-Hannifin Corporation from a hold rating to a buy rating and set a $198.00 target price on the stock in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $183.00.

In other Parker-Hannifin Corporation news, VP Martin C. Maxwell sold 2,640 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total value of $437,368.80. Following the transaction, the vice president now directly owns 31,718 shares of the company’s stock, valued at approximately $5,254,721.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph R. Leonti sold 408 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total transaction of $65,565.60. Following the completion of the transaction, the vice president now directly owns 7,318 shares in the company, valued at $1,176,002.60. The disclosure for this sale can be found here. Insiders sold a total of 5,389 shares of company stock worth $878,913 over the last three months. Corporate insiders own 1.12% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Parker-Hannifin Corporation (PH) Releases FY18 Earnings Guidance” was reported by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://sportsperspectives.com/2017/11/02/parker-hannifin-corporation-ph-releases-fy18-earnings-guidance.html.

About Parker-Hannifin Corporation

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

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

Receive News & Ratings for Parker-Hannifin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply