Analysts Anticipate Parker-Hannifin Corp (PH) to Announce $2.31 EPS
Wall Street brokerages forecast that Parker-Hannifin Corp (NYSE:PH) will report earnings of $2.31 per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Parker-Hannifin Corp’s earnings. The lowest EPS estimate is $2.22 and the highest is $2.48. Parker-Hannifin Corp posted earnings per share of $1.90 in the same quarter last year, which suggests a positive year-over-year growth rate of 21.6%. The company is expected to report its next quarterly earnings report on Thursday, August 3rd.
On average, analysts expect that Parker-Hannifin Corp will report full-year earnings of $7.90 per share for the current year, with EPS estimates ranging from $7.78 to $7.97. For the next year, analysts anticipate that the business will post earnings of $8.77 per share, with EPS estimates ranging from $8.03 to $9.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Parker-Hannifin Corp.
Parker-Hannifin Corp (NYSE:PH) last issued its earnings results on Thursday, April 27th. The industrial products company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.25. Parker-Hannifin Corp had a net margin of 7.86% and a return on equity of 20.08%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period in the prior year, the business posted $1.51 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year.
Several equities analysts have commented on the stock. Credit Suisse Group AG set a $169.00 target price on shares of Parker-Hannifin Corp and gave the company a “buy” rating in a research note on Saturday, February 4th. Barclays PLC set a $162.00 target price on shares of Parker-Hannifin Corp and gave the company a “hold” rating in a research note on Sunday, April 30th. BMO Capital Markets reissued a “buy” rating and set a $175.00 target price on shares of Parker-Hannifin Corp in a research note on Thursday, April 20th. Jefferies Group LLC reissued a “sell” rating on shares of Parker-Hannifin Corp in a research note on Friday, April 14th. Finally, JPMorgan Chase & Co. set a $175.00 price objective on shares of Parker-Hannifin Corp and gave the stock a “buy” rating in a research note on Thursday, May 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Parker-Hannifin Corp currently has an average rating of “Buy” and an average price target of $160.00.
In related news, VP Yoon Michael Chung sold 657 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $158.40, for a total transaction of $104,068.80. Following the completion of the sale, the vice president now directly owns 23,338 shares in the company, valued at $3,696,739.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jon P. Marten sold 7,913 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $155.68, for a total transaction of $1,231,895.84. Following the sale, the executive vice president now owns 44,413 shares of the company’s stock, valued at $6,914,215.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,367 shares of company stock valued at $9,282,905. 2.73% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Mizuho Trust & Banking Co. Ltd. boosted its stake in Parker-Hannifin Corp by 1.8% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 216,234 shares of the industrial products company’s stock valued at $27,144,000 after buying an additional 3,853 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Parker-Hannifin Corp by 2.7% in the third quarter. Stratos Wealth Partners LTD. now owns 4,858 shares of the industrial products company’s stock valued at $610,000 after buying an additional 126 shares in the last quarter. OLD National Bancorp IN boosted its stake in Parker-Hannifin Corp by 1.1% in the third quarter. OLD National Bancorp IN now owns 5,714 shares of the industrial products company’s stock valued at $717,000 after buying an additional 60 shares in the last quarter. TradeLink Capital LLC bought a new stake in Parker-Hannifin Corp during the third quarter valued at approximately $207,000. Finally, CG Asset Management LLC bought a new stake in Parker-Hannifin Corp during the third quarter valued at approximately $2,706,000. Institutional investors and hedge funds own 82.72% of the company’s stock.
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Shares of Parker-Hannifin Corp (NYSE:PH) traded up 0.43% on Thursday, reaching $160.21. 157,006 shares of the company’s stock traded hands. The firm has a market capitalization of $21.34 billion, a price-to-earnings ratio of 23.34 and a beta of 1.28. The company has a 50 day moving average price of $158.44 and a 200 day moving average price of $150.21. Parker-Hannifin Corp has a 52 week low of $99.10 and a 52 week high of $166.60.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Wednesday, May 10th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Monday, May 8th. Parker-Hannifin Corp’s dividend payout ratio is currently 40.80%.
About Parker-Hannifin Corp
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.
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