Parker-Hannifin Corporation (PH) Expected to Announce Earnings of $1.99 Per Share
Brokerages expect Parker-Hannifin Corporation (NYSE:PH) to announce $1.99 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Parker-Hannifin Corporation’s earnings. The lowest EPS estimate is $1.92 and the highest is $2.09. Parker-Hannifin Corporation reported earnings per share of $1.61 in the same quarter last year, which would suggest a positive year-over-year growth rate of 23.6%. The company is expected to issue its next earnings report on Friday, October 20th.
On average, analysts expect that Parker-Hannifin Corporation will report full-year earnings of $9.05 per share for the current year, with EPS estimates ranging from $8.90 to $9.18. For the next fiscal year, analysts anticipate that the business will report earnings of $10.17 per share, with EPS estimates ranging from $9.80 to $10.51. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Parker-Hannifin Corporation.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same period in the previous year, the firm earned $1.90 EPS. Parker-Hannifin Corporation’s quarterly revenue was up 18.2% compared to the same quarter last year.
Several brokerages recently issued reports on PH. ValuEngine raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub downgraded shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC set a $163.00 price target on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a research note on Wednesday, June 28th. Stifel Nicolaus set a $198.00 price objective on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Friday, August 4th. Finally, KeyCorp reiterated an “overweight” rating and set a $185.00 price objective on shares of Parker-Hannifin Corporation in a report on Saturday, September 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $174.88.
Shares of Parker-Hannifin Corporation (NYSE PH) traded up 0.56% during mid-day trading on Friday, reaching $177.15. 590,140 shares of the company’s stock traded hands. Parker-Hannifin Corporation has a 12 month low of $118.77 and a 12 month high of $177.61. The company has a 50 day moving average of $165.23 and a 200 day moving average of $161.18. The company has a market cap of $23.58 billion, a price-to-earnings ratio of 24.43 and a beta of 1.42.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Monday, August 28th were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, August 24th. Parker-Hannifin Corporation’s dividend payout ratio is 36.51%.
In other news, EVP Mark J. Hart sold 600 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $160.72, for a total transaction of $96,432.00. Following the completion of the sale, the executive vice president now directly owns 5,851 shares of the company’s stock, valued at approximately $940,372.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Scaminace sold 500 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $158.35, for a total value of $79,175.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,389 shares of company stock valued at $878,913. 1.12% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PH. Centre Asset Management LLC boosted its holdings in shares of Parker-Hannifin Corporation by 18.6% in the 3rd quarter. Centre Asset Management LLC now owns 50,780 shares of the industrial products company’s stock worth $8,888,000 after buying an additional 7,970 shares during the last quarter. USA Financial Portformulas Corp grew its position in Parker-Hannifin Corporation by 19.2% during the second quarter. USA Financial Portformulas Corp now owns 21,544 shares of the industrial products company’s stock valued at $3,443,000 after buying an additional 3,476 shares during the period. Sentry Investment Management LLC grew its position in Parker-Hannifin Corporation by 1.9% during the second quarter. Sentry Investment Management LLC now owns 34,457 shares of the industrial products company’s stock valued at $5,507,000 after buying an additional 658 shares during the period. Toronto Dominion Bank grew its position in Parker-Hannifin Corporation by 22.1% during the second quarter. Toronto Dominion Bank now owns 50,534 shares of the industrial products company’s stock valued at $8,077,000 after buying an additional 9,147 shares during the period. Finally, Advisory Services Network LLC increased its holdings in Parker-Hannifin Corporation by 145.6% during the second quarter. Advisory Services Network LLC now owns 1,191 shares of the industrial products company’s stock worth $190,000 after buying an additional 706 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.
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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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