Parker-Hannifin Corp (PH) Posts Quarterly Earnings Results, Beats Estimates By $0.23 EPS
Parker-Hannifin Corp (NYSE:PH) posted its quarterly earnings results on Tuesday. The company reported $1.88 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.65 by $0.23, Analyst Ratings Network.com reports. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.40 billion.
A number of research firms have recently commented on PH. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Parker-Hannifin Corp in a research note on Thursday, April 10th. They now have a $120.00 price target on the stock, down previously from $124.00. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of Parker-Hannifin Corp in a research note on Thursday, March 20th. They now have a $126.00 price target on the stock. Finally, analysts at MKM Partners upgraded shares of Parker-Hannifin Corp from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 5th. They now have a $130.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $120.44.
Parker-Hannifin Corp (NYSE:PH) opened at 122.73 on Tuesday. Parker-Hannifin Corp has a one year low of $87.06 and a one year high of $129.77. The stock has a 50-day moving average of $121.0 and a 200-day moving average of $119.3. The company has a market cap of $18.302 billion and a P/E ratio of 18.07.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 6th. Shareholders of record on Friday, May 9th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, May 7th.
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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