Equities Analysts Offer Predictions for Parker-Hannifin Corp.’s Q1 2017 Earnings (PH)
Parker-Hannifin Corp. (NYSE:PH) – Investment analysts at Avondale Partners issued their Q1 2017 earnings per share (EPS) estimates for shares of Parker-Hannifin Corp. in a report issued on Monday. Avondale Partners analyst I. Maryasis expects that the brokerage will earn $1.52 per share for the quarter. Avondale Partners currently has a “Market Perform” rating on the stock.
Parker-Hannifin Corp. (NYSE:PH) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Parker-Hannifin Corp. had a net margin of 7.10% and a return on equity of 18.37%. The company earned $2.96 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis.
Several other research analysts have also recently issued reports on the stock. Goldman Sachs Group Inc. upgraded shares of Parker-Hannifin Corp. from a “sell” rating to a “neutral” rating and upped their target price for the company from $106.00 to $120.00 in a report on Tuesday. Stifel Nicolaus upgraded shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and upped their target price for the company from $131.00 to $141.00 in a report on Wednesday, October 5th. Zacks Investment Research upgraded shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Tuesday, October 4th. Jefferies Group restated a “hold” rating on shares of Parker-Hannifin Corp. in a report on Monday, September 12th. Finally, KeyCorp restated a “buy” rating and issued a $136.00 target price on shares of Parker-Hannifin Corp. in a report on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $117.24.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/equities-analysts-offer-predictions-for-parker-hannifin-corp-s-q1-2017-earnings-ph.html
Parker-Hannifin Corp. (NYSE:PH) traded up 1.13% on Wednesday, reaching $124.46. 422,919 shares of the company’s stock were exchanged. Parker-Hannifin Corp. has a 1-year low of $83.32 and a 1-year high of $128.24. The company has a market capitalization of $16.67 billion, a P/E ratio of 21.13 and a beta of 1.49. The firm has a 50-day moving average price of $123.40 and a 200-day moving average price of $115.98.
Several large investors have recently added to or reduced their stakes in PH. BB&T Securities LLC purchased a new stake in Parker-Hannifin Corp. during the first quarter valued at about $1,763,000. Credit Agricole S A boosted its stake in Parker-Hannifin Corp. by 8.5% in the first quarter. Credit Agricole S A now owns 110,109 shares of the company’s stock valued at $12,232,000 after buying an additional 8,582 shares in the last quarter. AMF Pensionsforsakring AB boosted its stake in Parker-Hannifin Corp. by 7.0% in the first quarter. AMF Pensionsforsakring AB now owns 272,115 shares of the company’s stock valued at $30,227,000 after buying an additional 17,791 shares in the last quarter. Aviva PLC boosted its stake in Parker-Hannifin Corp. by 0.8% in the first quarter. Aviva PLC now owns 78,870 shares of the company’s stock valued at $8,761,000 after buying an additional 608 shares in the last quarter. Finally, Ancora Inverness LLC boosted its stake in Parker-Hannifin Corp. by 7.3% in the first quarter. Ancora Inverness LLC now owns 11,834 shares of the company’s stock valued at $1,315,000 after buying an additional 808 shares in the last quarter. 80.75% of the stock is currently owned by institutional investors.
In other Parker-Hannifin Corp. news, COO Lee C. Banks sold 10,953 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $124.28, for a total transaction of $1,361,238.84. Following the sale, the chief operating officer now directly owns 99,977 shares of the company’s stock, valued at approximately $12,425,141.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert W. Bond sold 14,043 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $124.51, for a total transaction of $1,748,493.93. The disclosure for this sale can be found here. Company insiders own 2.73% of the company’s stock.
Parker-Hannifin Corp. Company Profile
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
Receive News & Ratings for Parker-Hannifin Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corp. and related companies with MarketBeat.com's FREE daily email newsletter.