Analysts Anticipate Parker-Hannifin Corp (PH) to Announce $2.42 EPS

Wall Street analysts forecast that Parker-Hannifin Corp (NYSE:PH) will announce earnings per share of $2.42 for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Parker-Hannifin’s earnings, with the highest EPS estimate coming in at $2.53 and the lowest estimate coming in at $2.31. Parker-Hannifin posted earnings per share of $2.15 during the same quarter last year, which indicates a positive year over year growth rate of 12.6%. The business is expected to announce its next quarterly earnings results on Thursday, February 7th.

On average, analysts expect that Parker-Hannifin will report full year earnings of $11.61 per share for the current financial year, with EPS estimates ranging from $11.37 to $11.81. For the next fiscal year, analysts expect that the company will report earnings of $12.49 per share, with EPS estimates ranging from $12.14 to $12.95. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Parker-Hannifin.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, November 1st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.53 by $0.31. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.54 billion. Parker-Hannifin had a return on equity of 25.49% and a net margin of 7.98%. Parker-Hannifin’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company earned $2.24 earnings per share.

A number of research firms recently issued reports on PH. Gordon Haskett initiated coverage on Parker-Hannifin in a report on Friday, October 12th. They set a “sell” rating for the company. ValuEngine upgraded Parker-Hannifin from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. Citigroup decreased their price target on Parker-Hannifin from $185.00 to $178.00 and set a “neutral” rating for the company in a research note on Friday, November 2nd. Morgan Stanley decreased their price target on Parker-Hannifin from $187.00 to $179.00 and set a “hold” rating for the company in a research note on Monday, November 5th. Finally, Barclays initiated coverage on Parker-Hannifin in a research note on Thursday, September 6th. They issued an “overweight” rating and a $200.00 price target for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $186.72.

NYSE:PH opened at $157.04 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.60 and a debt-to-equity ratio of 0.71. The stock has a market cap of $21.62 billion, a P/E ratio of 14.83, a PEG ratio of 1.25 and a beta of 1.56. Parker-Hannifin has a 52-week low of $143.00 and a 52-week high of $212.80.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Friday, November 9th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $3.04 annualized dividend and a dividend yield of 1.94%. Parker-Hannifin’s dividend payout ratio is currently 29.17%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rehmann Capital Advisory Group lifted its holdings in Parker-Hannifin by 20.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,853 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 315 shares during the last quarter. MUFG Americas Holdings Corp lifted its holdings in Parker-Hannifin by 1.5% during the 2nd quarter. MUFG Americas Holdings Corp now owns 22,152 shares of the industrial products company’s stock worth $3,452,000 after purchasing an additional 326 shares during the last quarter. Stokes Capital Advisors LLC lifted its holdings in Parker-Hannifin by 2.9% during the 3rd quarter. Stokes Capital Advisors LLC now owns 11,780 shares of the industrial products company’s stock worth $2,167,000 after purchasing an additional 330 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in Parker-Hannifin by 6.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,697 shares of the industrial products company’s stock worth $888,000 after purchasing an additional 338 shares during the last quarter. Finally, Ascension Asset Management LLC lifted its holdings in Parker-Hannifin by 3.6% during the 2nd quarter. Ascension Asset Management LLC now owns 10,200 shares of the industrial products company’s stock worth $1,590,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 79.67% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; 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; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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

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