Brokerages Expect Parker-Hannifin Co. (NYSE:PH) to Announce $4.61 Earnings Per Share

Analysts expect Parker-Hannifin Co. (NYSE:PH – Get Rating) to report earnings of $4.61 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Parker-Hannifin’s earnings. The highest EPS estimate is $4.70 and the lowest is $4.52. Parker-Hannifin posted earnings per share of $4.11 in the same quarter last year, which indicates a positive year-over-year growth rate of 12.2%. The firm is scheduled to report its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Parker-Hannifin will report full-year earnings of $18.15 per share for the current fiscal year, with EPS estimates ranging from $18.00 to $18.30. For the next fiscal year, analysts anticipate that the firm will post earnings of $18.89 per share, with EPS estimates ranging from $16.61 to $20.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that cover Parker-Hannifin.

Parker-Hannifin (NYSE:PH – Get Rating) last posted its quarterly earnings results on Thursday, February 3rd. The industrial products company reported $4.46 EPS for the quarter, beating the Zacks’ consensus estimate of $3.85 by $0.61. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.72 billion. Parker-Hannifin had a return on equity of 27.26% and a net margin of 11.87%. Parker-Hannifin’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.44 earnings per share.

A number of research firms recently commented on PH. Mizuho dropped their price target on Parker-Hannifin from $345.00 to $305.00 and set a “neutral” rating for the company in a research note on Wednesday, March 9th. StockNews.com initiated coverage on Parker-Hannifin in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Barclays decreased their target price on Parker-Hannifin from $376.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, April 4th. Deutsche Bank Aktiengesellschaft decreased their target price on Parker-Hannifin from $343.00 to $335.00 and set a “hold” rating on the stock in a research report on Thursday, April 14th. Finally, Jefferies Financial Group reduced their price target on Parker-Hannifin from $380.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, March 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $356.93.

In related news, VP Robert W. Malone sold 5,077 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 4th. The stock was sold at an average price of $310.00, for a total value of $1,573,870.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ellevest Inc. lifted its stake in Parker-Hannifin by 12.3% in the fourth quarter. Ellevest Inc. now owns 302 shares of the industrial products company’s stock valued at $96,000 after buying an additional 33 shares during the period. Quadrant Capital Group LLC raised its position in shares of Parker-Hannifin by 3.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,156 shares of the industrial products company’s stock worth $368,000 after purchasing an additional 34 shares during the period. Aurora Investment Counsel raised its position in shares of Parker-Hannifin by 0.9% during the fourth quarter. Aurora Investment Counsel now owns 4,074 shares of the industrial products company’s stock worth $1,296,000 after purchasing an additional 35 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in shares of Parker-Hannifin by 41.9% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 122 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 36 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Parker-Hannifin by 48.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 111 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 36 shares during the period. 80.55% of the stock is currently owned by hedge funds and other institutional investors.

PH stock opened at $276.43 on Wednesday. The company has a market cap of $35.52 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.66 and a beta of 1.57. The business has a 50-day simple moving average of $281.64 and a 200 day simple moving average of $302.10. Parker-Hannifin has a 52 week low of $265.42 and a 52 week high of $340.00. The company has a quick ratio of 1.07, a current ratio of 1.50 and a debt-to-equity ratio of 0.71.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 3rd. Investors of record on Friday, May 13th will be paid a $1.33 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.03. This represents a $5.32 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, May 12th. Parker-Hannifin’s payout ratio is currently 29.75%.

Parker-Hannifin Company Profile (Get Rating)

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments, Diversified Industrial and Aerospace Systems. The Company's Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

Featured Articles