Parker-Hannifin Corp (NYSE:PH) Expected to Post Earnings of $2.45 Per Share

Wall Street brokerages expect that Parker-Hannifin Corp (NYSE:PH) will report earnings of $2.45 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Parker-Hannifin’s earnings. The highest EPS estimate is $2.69 and the lowest is $2.36. Parker-Hannifin posted earnings per share of $3.17 during the same quarter last year, which would suggest a negative year over year growth rate of 22.7%. The company is expected to issue its next quarterly earnings report on Thursday, May 7th.

According to Zacks, analysts expect that Parker-Hannifin will report full-year earnings of $10.61 per share for the current fiscal year, with EPS estimates ranging from $10.40 to $10.85. For the next year, analysts expect that the firm will post earnings of $11.74 per share, with EPS estimates ranging from $11.19 to $12.50. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Parker-Hannifin.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.27. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Parker-Hannifin had a net margin of 9.63% and a return on equity of 25.18%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $2.51 earnings per share.

Several analysts recently weighed in on PH shares. Deutsche Bank raised their target price on shares of Parker-Hannifin from $215.00 to $227.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup raised their target price on shares of Parker-Hannifin from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Morgan Stanley raised their target price on shares of Parker-Hannifin from $209.00 to $223.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Stifel Nicolaus raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and raised their price objective for the stock from $199.00 to $229.00 in a report on Tuesday, December 17th. Finally, Goldman Sachs Group raised shares of Parker-Hannifin from a “sell” rating to a “buy” rating and raised their price objective for the stock from $180.00 to $230.00 in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $211.27.

In other news, VP William R. Bowman sold 1,904 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $208.83, for a total transaction of $397,612.32. Following the transaction, the vice president now directly owns 6,622 shares in the company, valued at $1,382,872.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Andrew M. Weeks sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.38, for a total transaction of $751,425.00. In the last three months, insiders have sold 6,429 shares of company stock worth $1,304,440. 1.23% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its position in shares of Parker-Hannifin by 16.1% in the 1st quarter. FMR LLC now owns 310,712 shares of the industrial products company’s stock worth $53,324,000 after buying an additional 43,094 shares during the last quarter. Pflug Koory LLC grew its position in shares of Parker-Hannifin by 36.2% in the 3rd quarter. Pflug Koory LLC now owns 1,412 shares of the industrial products company’s stock worth $255,000 after buying an additional 375 shares during the last quarter. Wealthfront Advisers LLC grew its position in shares of Parker-Hannifin by 19.7% in the 3rd quarter. Wealthfront Advisers LLC now owns 3,584 shares of the industrial products company’s stock worth $647,000 after buying an additional 589 shares during the last quarter. DNB Asset Management AS grew its position in shares of Parker-Hannifin by 9.3% in the 3rd quarter. DNB Asset Management AS now owns 30,451 shares of the industrial products company’s stock worth $5,500,000 after buying an additional 2,588 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Parker-Hannifin by 8.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,960 shares of the industrial products company’s stock worth $1,437,000 after buying an additional 638 shares during the last quarter. Institutional investors and hedge funds own 80.23% of the company’s stock.

Shares of NYSE:PH opened at $211.84 on Wednesday. The firm’s 50 day moving average price is $204.99 and its 200 day moving average price is $188.80. The stock has a market cap of $27.35 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 2.20 and a beta of 1.55. Parker-Hannifin has a fifty-two week low of $152.18 and a fifty-two week high of $215.40. The company has a quick ratio of 0.89, a current ratio of 1.38 and a debt-to-equity ratio of 1.28.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 7th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $3.52 dividend on an annualized basis and a yield of 1.66%. Parker-Hannifin’s payout ratio is currently 29.70%.

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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