Parker-Hannifin (NYSE:PH) Issues FY 2022 Earnings Guidance

Parker-Hannifin (NYSE:PH) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $16.950-$17.650 for the period, compared to the Thomson Reuters consensus EPS estimate of $16.900. The company issued revenue guidance of -.

Several research firms recently weighed in on PH. Melius upgraded Parker-Hannifin from a hold rating to a buy rating in a research report on Tuesday, October 12th. JPMorgan Chase & Co. began coverage on Parker-Hannifin in a research report on Friday, September 10th. They set a neutral rating and a $300.00 target price on the stock. Credit Suisse Group increased their target price on Parker-Hannifin from $385.00 to $415.00 and gave the stock an outperform rating in a research report on Friday, November 5th. Robert W. Baird raised their price objective on Parker-Hannifin from $366.00 to $440.00 and gave the stock an outperform rating in a report on Friday, November 5th. Finally, BMO Capital Markets raised their target price on Parker-Hannifin from $375.00 to $400.00 and gave the company an outperform rating in a report on Tuesday, November 9th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Buy and an average target price of $356.06.

NYSE PH traded down $3.98 during mid-day trading on Thursday, reaching $325.04. 499,037 shares of the company’s stock traded hands, compared to its average volume of 872,618. Parker-Hannifin has a 1-year low of $247.41 and a 1-year high of $334.98. The company has a fifty day simple moving average of $303.62 and a 200-day simple moving average of $302.32. The company has a current ratio of 1.72, a quick ratio of 1.03 and a debt-to-equity ratio of 0.74. The company has a market cap of $41.77 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 2.14 and a beta of 1.74.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, November 4th. The industrial products company reported $4.26 EPS for the quarter, topping the consensus estimate of $3.68 by $0.58. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.64 billion. Parker-Hannifin had a return on equity of 27.02% and a net margin of 12.60%. The business’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.07 EPS. Equities research analysts forecast that Parker-Hannifin will post 16.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 3rd. Stockholders of record on Friday, November 12th will be given a $1.03 dividend. The ex-dividend date of this dividend is Wednesday, November 10th. This represents a $4.12 annualized dividend and a dividend yield of 1.27%. Parker-Hannifin’s payout ratio is 28.83%.

In other Parker-Hannifin news, VP Andrew M. Weeks sold 2,595 shares of Parker-Hannifin stock in a transaction on Friday, November 5th. The stock was sold at an average price of $328.01, for a total transaction of $851,185.95. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas L. Williams sold 23,496 shares of Parker-Hannifin stock in a transaction on Friday, November 5th. The shares were sold at an average price of $324.33, for a total value of $7,620,457.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,730 shares of company stock valued at $10,678,810. Insiders own 1.47% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. It operates through Diversified Industrial and Aerospace segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery, and equipment industries.

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

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