Zacks: Brokerages Anticipate Parker-Hannifin Corporation (PH) Will Post Quarterly Sales of $3.32 Billion
Wall Street brokerages expect that Parker-Hannifin Corporation (NYSE:PH) will report sales of $3.32 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Parker-Hannifin Corporation’s earnings, with the lowest sales estimate coming in at $3.30 billion and the highest estimate coming in at $3.34 billion. Parker-Hannifin Corporation posted sales of $2.74 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 21.2%. The company is expected to issue its next quarterly earnings report on Friday, October 20th.
On average, analysts expect that Parker-Hannifin Corporation will report full-year sales of $3.32 billion for the current fiscal year, with estimates ranging from $13.53 billion to $13.84 billion. For the next year, analysts forecast that the company will post sales of $14.25 billion per share, with estimates ranging from $13.95 billion to $14.47 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Parker-Hannifin Corporation.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.14. The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share.
PH has been the topic of several recent research reports. Stifel Nicolaus set a $198.00 price target on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research report on Friday. Jefferies Group LLC reissued a “hold” rating and set a $163.00 price target on shares of Parker-Hannifin Corporation in a research report on Thursday. BidaskClub lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Wolfe Research initiated coverage on Parker-Hannifin Corporation in a research report on Tuesday, July 11th. They set an “outperform” rating and a $182.00 price target on the stock. Finally, ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $168.56.
In other Parker-Hannifin Corporation news, VP Robert W. Malone sold 793 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $159.36, for a total value of $126,372.48. Following the transaction, the vice president now directly owns 11,549 shares of the company’s stock, valued at approximately $1,840,448.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP William R. Bowman sold 2,900 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $158.92, for a total value of $460,868.00. Following the completion of the transaction, the vice president now directly owns 1,172 shares in the company, valued at $186,254.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,073 shares of company stock worth $1,450,748. 2.73% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Harbour Capital Advisors LLC purchased a new stake in Parker-Hannifin Corporation during the first quarter valued at about $112,000. Quadrant Capital Group LLC raised its stake in Parker-Hannifin Corporation by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock valued at $131,000 after buying an additional 37 shares in the last quarter. TrimTabs Asset Management LLC raised its stake in Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock valued at $137,000 after buying an additional 400 shares in the last quarter. FNY Partners Fund LP purchased a new stake in Parker-Hannifin Corporation during the first quarter valued at about $160,000. Finally, Independent Portfolio Consultants Inc. raised its stake in Parker-Hannifin Corporation by 74.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,124 shares of the industrial products company’s stock valued at $180,000 after buying an additional 479 shares in the last quarter. 79.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of Parker-Hannifin Corporation (PH) opened at 164.22 on Monday. The stock’s 50 day moving average is $162.13 and its 200 day moving average is $157.33. The firm has a market cap of $21.87 billion, a PE ratio of 23.92 and a beta of 1.40. Parker-Hannifin Corporation has a 12 month low of $118.77 and a 12 month high of $167.50.
Parker-Hannifin Corporation 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.
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