Parker-Hannifin Corp (PH) Expected to Announce Quarterly Sales of $3.60 Billion

Equities analysts forecast that Parker-Hannifin Corp (NYSE:PH) will report $3.60 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Parker-Hannifin’s earnings, with the highest sales estimate coming in at $3.63 billion and the lowest estimate coming in at $3.56 billion. Parker-Hannifin posted sales of $3.12 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 15.4%. The company is scheduled to issue its next earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Parker-Hannifin will report full-year sales of $3.60 billion for the current year, with estimates ranging from $13.83 billion to $14.13 billion. For the next fiscal year, analysts anticipate that the company will report sales of $14.64 billion per share, with estimates ranging from $14.34 billion to $14.82 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Parker-Hannifin.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.08. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. Parker-Hannifin had a return on equity of 23.15% and a net margin of 6.54%. The company’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter last year, the company earned $1.91 earnings per share.

A number of equities research analysts recently commented on PH shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $198.00 target price on shares of Parker-Hannifin in a report on Friday, October 13th. KeyCorp reaffirmed a “buy” rating and set a $200.00 target price on shares of Parker-Hannifin in a report on Thursday, October 12th. Zacks Investment Research raised Parker-Hannifin from a “hold” rating to a “buy” rating and set a $198.00 target price for the company in a report on Tuesday, October 10th. Buckingham Research started coverage on Parker-Hannifin in a report on Tuesday, October 17th. They set a “buy” rating and a $205.00 target price for the company. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $200.00 target price on shares of Parker-Hannifin in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $199.53.

Shares of Parker-Hannifin (NYSE PH) opened at $190.64 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.49 and a debt-to-equity ratio of 0.87. Parker-Hannifin has a twelve month low of $145.38 and a twelve month high of $212.80. The firm has a market capitalization of $25,400.00, a PE ratio of 29.65, a price-to-earnings-growth ratio of 1.66 and a beta of 1.31.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, February 8th. Parker-Hannifin’s payout ratio is presently 41.06%.

In other news, VP Andrew D. Ross sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $192.14, for a total value of $395,039.84. Following the completion of the sale, the vice president now directly owns 5,207 shares in the company, valued at $1,000,472.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas C. Gentile sold 326 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $181.89, for a total value of $59,296.14. The disclosure for this sale can be found here. Insiders sold 16,669 shares of company stock valued at $3,042,096 over the last three months. 1.12% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. IHT Wealth Management LLC increased its position in shares of Parker-Hannifin by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after buying an additional 20 shares in the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of Parker-Hannifin in the second quarter valued at approximately $167,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $168,000. Advisory Services Network LLC increased its position in shares of Parker-Hannifin by 145.6% in the second quarter. Advisory Services Network LLC now owns 1,191 shares of the industrial products company’s stock valued at $190,000 after buying an additional 706 shares in the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $197,000. Institutional investors and hedge funds own 78.27% of the company’s stock.

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Parker-Hannifin 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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Earnings History and Estimates for Parker-Hannifin (NYSE:PH)

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