Parker-Hannifin Corp (PH) Releases FY14 Earnings Guidance
Parker-Hannifin Corp (NYSE:PH) updated its FY14 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.20-6.60 for the period, compared to the Thomson Reuters consensus estimate of $6.62, American Banking & Market News reports.
Shares of Parker-Hannifin Corp (NYSE:PH) traded down 3.56% on Wednesday, hitting $122.31. 816,522 shares of the company’s stock traded hands. Parker-Hannifin Corp has a 52-week low of $84.50 and a 52-week high of $129.77. The stock’s 50-day moving average is $124.3 and its 200-day moving average is $111.6. The company has a market cap of $18.253 billion and a P/E ratio of 20.13.
Parker-Hannifin Corp (NYSE:PH) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.66 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.23 by $0.43. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts expect that Parker-Hannifin Corp will post $6.56 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus raised their price target on shares of Parker-Hannifin Corp from $125.00 to $140.00 in a research note to investors on Tuesday. They now have a buy rating on the stock. On a related note, analysts at Robert W. Baird raised their price target on shares of Parker-Hannifin Corp from $122.00 to $138.00 in a research note to investors on Tuesday, January 7th. They now have an outperform rating on the stock. Finally, analysts at Zacks reiterated a neutral rating on shares of Parker-Hannifin Corp in a research note to investors on Friday, January 3rd. They now have a $134.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $112.53.
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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