Analysts Anticipate Parker-Hannifin Corp (NYSE:PH) Will Post Earnings of $2.68 Per Share

Equities research analysts expect Parker-Hannifin Corp (NYSE:PH) to post earnings per share of $2.68 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Parker-Hannifin’s earnings. The highest EPS estimate is $2.84 and the lowest is $2.63. Parker-Hannifin posted earnings per share of $2.84 in the same quarter last year, which suggests a negative year-over-year growth rate of 5.6%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Parker-Hannifin will report full year earnings of $11.95 per share for the current fiscal year, with EPS estimates ranging from $11.68 to $12.30. For the next year, analysts anticipate that the company will post earnings of $12.37 per share, with EPS estimates ranging from $11.62 to $13.10. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Parker-Hannifin.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $3.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.09 by $0.22. Parker-Hannifin had a return on equity of 26.11% and a net margin of 10.56%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the company earned $3.22 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year.

Several research analysts have weighed in on PH shares. Bank of America downgraded shares of Parker-Hannifin from a “buy” rating to a “neutral” rating in a report on Friday, July 12th. Zacks Investment Research downgraded Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 price objective for the company. in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lowered Parker-Hannifin from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $186.00 to $169.00 in a report on Wednesday, July 10th. Stifel Nicolaus raised their target price on Parker-Hannifin from $164.00 to $176.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Finally, Goldman Sachs Group cut Parker-Hannifin from a “neutral” rating to a “sell” rating and cut their target price for the company from $178.00 to $150.00 in a research report on Tuesday, July 16th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Parker-Hannifin has a consensus rating of “Hold” and an average price target of $176.55.

In other news, CEO Thomas L. Williams sold 32,109 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $180.68, for a total transaction of $5,801,454.12. Following the completion of the sale, the chief executive officer now directly owns 130,176 shares of the company’s stock, valued at approximately $23,520,199.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Linda S. Harty bought 3,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were acquired at an average cost of $158.39 per share, with a total value of $475,170.00. Following the completion of the transaction, the director now owns 13,243 shares in the company, valued at $2,097,558.77. The disclosure for this purchase can be found here. Company insiders own 1.12% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of PH. Nuveen Asset Management LLC increased its stake in shares of Parker-Hannifin by 1,570.0% in the second quarter. Nuveen Asset Management LLC now owns 2,260,165 shares of the industrial products company’s stock worth $384,251,000 after purchasing an additional 2,124,824 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its holdings in shares of Parker-Hannifin by 99.3% in the second quarter. Beutel Goodman & Co Ltd. now owns 2,529,745 shares of the industrial products company’s stock worth $326,638,000 after acquiring an additional 1,260,312 shares during the period. JPMorgan Chase & Co. grew its position in shares of Parker-Hannifin by 14.5% in the second quarter. JPMorgan Chase & Co. now owns 4,912,823 shares of the industrial products company’s stock valued at $827,567,000 after purchasing an additional 622,437 shares in the last quarter. Longview Partners Guernsey LTD grew its position in shares of Parker-Hannifin by 10.2% in the second quarter. Longview Partners Guernsey LTD now owns 6,642,630 shares of the industrial products company’s stock valued at $1,129,314,000 after purchasing an additional 616,196 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its stake in shares of Parker-Hannifin by 17,582.8% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 511,563 shares of the industrial products company’s stock valued at $51,156,000 after purchasing an additional 508,670 shares during the period. Institutional investors own 82.75% of the company’s stock.

NYSE PH traded up $3.17 during trading hours on Friday, reaching $184.46. The company’s stock had a trading volume of 1,045,794 shares, compared to its average volume of 888,271. The stock has a market cap of $22.79 billion, a P/E ratio of 15.57, a P/E/G ratio of 1.62 and a beta of 1.56. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.43 and a quick ratio of 1.90. Parker-Hannifin has a 52 week low of $140.82 and a 52 week high of $193.19. The firm has a fifty day simple moving average of $167.24 and a 200-day simple moving average of $170.46.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, August 27th. Parker-Hannifin’s payout ratio is 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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