Parker-Hannifin Earns Buy Rating from Analysts at Buckingham Research (PH)
Equities research analysts at Buckingham Research started coverage on shares of Parker-Hannifin (NYSE:PH) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Shares of Parker-Hannifin (NYSE:PH) traded up 1.41% on Thursday, hitting $117.04. The stock had a trading volume of 3,112,352 shares. Parker-Hannifin has a 1-year low of $102.27 and a 1-year high of $130.44. The stock has a 50-day moving average of $116.6 and a 200-day moving average of $121.5. The company has a market cap of $17.415 billion and a price-to-earnings ratio of 16.80.
Parker-Hannifin (NYSE:PH) last released its earnings data on Wednesday, August 6th. The company reported $2.06 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.78 earnings per share. Parker-Hannifin’s revenue was up 2.8% compared to the same quarter last year. Analysts expect that Parker-Hannifin will post $7.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors 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.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Parker-Hannifin in a research note on Tuesday, August 26th. They now have a $123.00 price target on the stock. Separately, 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. Finally, 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. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $133.14.
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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