Parker-Hannifin Rating Reiterated by Zacks (PH)
Parker-Hannifin (NYSE:PH)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Tuesday. They currently have a $123.00 price target on the stock. Zacks‘s price objective would indicate a potential upside of 5.11% from the stock’s previous close.
Zacks’ analyst wrote, “Parker-Hannifin reported a modest performance in the fourth quarter of fiscal 2014. While earnings per share increased 15.7% year over year, results missed the Zacks Consensus Estimate by $0.01. Revenues increased 3% in the reported quarter. Parker-Hannifin aims to benefit from continuous strategic acquisitions. The company has consistently offered healthy dividend hikes and its industrial sales business is performing well over the last few quarters. However, higher costs for ongoing restructuring activities continue to be a drag on the company’s profitability. Nevertheless, we maintain our long-term Neutral recommendation on the stock with a target price of $123.00.”
Parker-Hannifin (NYSE:PH) traded down 0.15% during mid-day trading on Tuesday, hitting $116.36. 440,089 shares of the company’s stock traded hands. Parker-Hannifin has a 52 week low of $99.75 and a 52 week high of $130.44. The stock’s 50-day moving average is $118.4 and its 200-day moving average is $121.6. The company has a market cap of $17.314 billion and a price-to-earnings ratio of 16.96.
Parker-Hannifin (NYSE:PH) last announced its earnings results on Wednesday, August 6th. The company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by $0.01. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts predict that Parker-Hannifin will post $7.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Thursday, August 28th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, August 26th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, August 7th. They now have a $130.00 price target on the stock, down previously from $140.00. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, August 7th. They now have a $130.00 price target on the stock, down previously from $150.00. Finally, analysts at Stifel Nicolaus cut their price target on shares of Parker-Hannifin from $140.00 to $130.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Parker-Hannifin presently has a consensus rating of “Buy” and a consensus target price of $133.14.
In other Parker-Hannifin news, VP Jeffery A. Cullman sold 5,468 shares of the company’s stock on the open market in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $115.17, for a total transaction of $629,749.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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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