Parker-Hannifin Corp (PH) Releases FY14 Earnings Guidance
Parker-Hannifin Corp (NYSE:PH) issued an update on its FY14 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $6.57-7.17 for the period, compared to the Thomson Reuters consensus estimate of $6.70, AmericanBankingNews.com reports.
Several analysts have recently commented on the stock. 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 a related note, 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 analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Parker-Hannifin Corp currently has a consensus rating of Hold and a consensus price target of $94.06.
Shares of Parker-Hannifin Corp (NYSE:PH) opened at 106.82 on Friday. Parker-Hannifin Corp has a one year low of $75.80 and a one year high of $110.21. The stock has a 50-day moving average of $105.7 and a 200-day moving average of $99.12. The company has a market cap of $15.935 billion and a price-to-earnings ratio of 17.06.
Parker-Hannifin Corp (NYSE:PH) last announced its earnings results on Friday, October 18th. The company reported $1.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.48 by $0.13. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Analysts expect that Parker-Hannifin Corp will post $6.53 EPS for the current fiscal year.
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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