Brokerages Expect Parker-Hannifin Corp (PH) Will Announce Earnings of $2.59 Per Share

Equities analysts predict that Parker-Hannifin Corp (NYSE:PH) will report earnings of $2.59 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Parker-Hannifin’s earnings, with estimates ranging from $2.44 to $2.68. Parker-Hannifin reported earnings per share of $2.11 during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.7%. The company is scheduled to issue its next earnings report on Thursday, April 26th.

According to Zacks, analysts expect that Parker-Hannifin will report full year earnings of $9.93 per share for the current fiscal year, with EPS estimates ranging from $9.64 to $10.10. For the next fiscal year, analysts forecast that the business will post earnings of $11.30 per share, with EPS estimates ranging from $10.50 to $11.86. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that follow Parker-Hannifin.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.08. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. Parker-Hannifin had a net margin of 6.54% and a return on equity of 23.15%. Parker-Hannifin’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period last year, the company posted $1.91 EPS.

A number of analysts recently weighed in on PH shares. Zacks Investment Research upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $208.00 price target on the stock in a research report on Tuesday, November 7th. Robert W. Baird increased their price target on shares of Parker-Hannifin from $183.00 to $194.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. BMO Capital Markets increased their price target on shares of Parker-Hannifin from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. Cowen restated a “hold” rating and set a $155.00 target price on shares of Parker-Hannifin in a report on Sunday, October 29th. Finally, Wells Fargo & Co raised their target price on shares of Parker-Hannifin from $205.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Parker-Hannifin presently has an average rating of “Hold” and an average target price of $200.83.

In other news, VP Thomas C. Gentile sold 326 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $181.89, for a total transaction of $59,296.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew D. Ross sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $192.14, for a total transaction of $395,039.84. Following the transaction, the vice president now directly owns 5,207 shares of the company’s stock, valued at $1,000,472.98. The disclosure for this sale can be found here. Insiders have sold a total of 16,669 shares of company stock valued at $3,042,096 over the last ninety days. Company insiders own 1.12% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Emerald Advisers Inc. PA bought a new position in shares of Parker-Hannifin in the third quarter valued at $1,527,000. Cubist Systematic Strategies LLC grew its stake in shares of Parker-Hannifin by 154.0% in the third quarter. Cubist Systematic Strategies LLC now owns 6,820 shares of the industrial products company’s stock valued at $1,194,000 after buying an additional 4,135 shares in the last quarter. IFM Investors Pty Ltd bought a new position in shares of Parker-Hannifin in the third quarter valued at $713,000. Private Advisor Group LLC grew its stake in shares of Parker-Hannifin by 58.2% in the third quarter. Private Advisor Group LLC now owns 5,554 shares of the industrial products company’s stock valued at $984,000 after buying an additional 2,043 shares in the last quarter. Finally, Koch Industries Inc. bought a new position in shares of Parker-Hannifin in the second quarter valued at $521,000. 78.39% of the stock is owned by institutional investors.

Shares of Parker-Hannifin (NYSE:PH) traded down $8.83 during trading hours on Friday, hitting $174.51. 1,520,000 shares of the company were exchanged, compared to its average volume of 1,090,000. The firm has a market cap of $23,250.00, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 1.61 and a beta of 1.31. The company has a quick ratio of 0.99, a current ratio of 1.49 and a debt-to-equity ratio of 0.87. Parker-Hannifin has a 1-year low of $145.38 and a 1-year high of $212.80.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be issued a dividend of $0.66 per share. The ex-dividend date is Thursday, February 8th. This represents a $2.64 annualized dividend and a yield of 1.51%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 41.06%.

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Parker-Hannifin Company Profile

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.

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

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