Parker-Hannifin Corp (PH) Posts Quarterly Results
Parker-Hannifin Corp (NYSE:PH) announced its earnings results on Friday. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.13, Analyst Ratings Net reports. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.26 billion.
A number of research firms have recently commented on PH. Analysts at Zacks downgraded shares of Parker-Hannifin Corp from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, October 4th. They now have a $99.00 price target on the stock. On the ratings front, analysts at BMO Capital Markets raised their price target on shares of Parker-Hannifin Corp from $115.00 to $118.00 in a research note to investors on Tuesday, September 24th. They now have an “outperform” rating on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Parker-Hannifin Corp in a research note to investors on Thursday, September 5th. They set an “underweight” rating and a $92.00 price target on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $94.06.
Parker-Hannifin Corp (NYSE:PH) opened at 106.82 on Friday. Parker-Hannifin Corp has a 52 week low of $75.80 and a 52 week high of $110.21. The stock’s 50-day moving average is $105.7 and its 200-day moving average is $99.12. The company has a market cap of $15.935 billion and a price-to-earnings ratio of 17.06.
Parker-Hannifin Corporation (NYSE:PH) is a full-line diversified manufacturer of motion and control technologies and systems, including fluid power systems, electromechanical controls and related components.
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