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.

TRADEMARK VIOLATION NOTICE: This article was first published by American Banking News and is owned by of American Banking News. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of international copyright law. The original version of this article can be read at https://www.americanbankingnews.com/2017/05/25/analysts-anticipate-parker-hannifin-corp-ph-to-announce-2-31-eps.html.

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.

12 Month Chart for NYSE:PH

Get a free copy of the Zacks research report on Parker-Hannifin Corp (PH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.