Parker-Hannifin Corp Given Average Recommendation of “Buy” by Brokerages (NYSE:PH)
Parker-Hannifin Corp (NYSE:PH) has earned a consensus rating of “Buy” from the eighteen brokerages that are presently covering the stock, StockRatingsNetwork reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $121.19.
Shares of Parker-Hannifin Corp (NYSE:PH) traded down 2.06% during mid-day trading on Monday, hitting $116.23. The stock had a trading volume of 408,971 shares. Parker-Hannifin Corp has a 1-year low of $84.50 and a 1-year high of $129.77. The stock’s 50-day moving average is $122. and its 200-day moving average is $112.8. The company has a market cap of $17.336 billion and a P/E ratio of 17.52.
Parker-Hannifin Corp (NYSE:PH) last announced its earnings results 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 last year, the company posted $1.19 earnings per share. Parker-Hannifin Corp’s revenue was up 1.3% compared to the same quarter last year. Analysts expect that Parker-Hannifin Corp will post $6.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 7th. Shareholders of record on Monday, February 10th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, February 6th. This is a positive change from Parker-Hannifin Corp’s previous quarterly dividend of $0.45.
Several analysts have recently commented on the stock. Analysts at MKM Partners upgraded shares of Parker-Hannifin Corp from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, February 5th. They now have a $130.00 price target on the stock. Separately, analysts at Argus raised their price target on shares of Parker-Hannifin Corp from $139.00 to $143.00 in a research note to investors on Monday, January 27th. They now have a “buy” rating on the stock.
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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