Equities research analysts forecast that Parker-Hannifin Corp (NYSE:PH) will post $3.46 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Parker-Hannifin’s earnings. The lowest sales estimate is $3.40 billion and the highest is $3.50 billion. Parker-Hannifin reported sales of $3.37 billion during the same quarter last year, which indicates a positive year over year growth rate of 2.7%. The business is expected to report its next earnings report on Thursday, February 7th.
According to Zacks, analysts expect that Parker-Hannifin will report full year sales of $14.59 billion for the current financial year, with estimates ranging from $14.39 billion to $14.70 billion. For the next year, analysts anticipate that the firm will report sales of $15.01 billion, with estimates ranging from $14.66 billion to $15.19 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover 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 for the quarter, topping the consensus estimate of $2.53 by $0.31. Parker-Hannifin had a net margin of 7.98% and a return on equity of 25.49%. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the previous year, the company posted $2.24 EPS. Parker-Hannifin’s revenue was up 3.4% on a year-over-year basis.
Several research analysts recently weighed in on PH shares. Morgan Stanley started coverage on shares of Parker-Hannifin in a research report on Monday, August 20th. They issued an “equal weight” rating and a $185.00 price objective for the company. Citigroup dropped their price objective on shares of Parker-Hannifin from $185.00 to $178.00 and set a “neutral” rating for the company in a research report on Friday, November 2nd. Wells Fargo & Co upgraded shares of Parker-Hannifin from a “market perform” rating to an “outperform” rating and set a $193.00 target price for the company in a research report on Friday, November 2nd. Buckingham Research upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating in a research report on Friday, September 14th. Finally, ValuEngine cut shares of Parker-Hannifin from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $186.72.
Several institutional investors have recently modified their holdings of PH. Piedmont Investment Advisors LLC acquired a new position in shares of Parker-Hannifin in the 2nd quarter valued at $241,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Parker-Hannifin by 4.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 22,691 shares of the industrial products company’s stock valued at $3,537,000 after buying an additional 1,025 shares during the period. Alps Advisors Inc. acquired a new position in shares of Parker-Hannifin in the 2nd quarter valued at $563,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Parker-Hannifin by 5,815.4% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the industrial products company’s stock valued at $120,000 after buying an additional 756 shares during the period. Finally, Smith Asset Management Group LP grew its holdings in shares of Parker-Hannifin by 5.1% in the 2nd quarter. Smith Asset Management Group LP now owns 164,546 shares of the industrial products company’s stock valued at $25,677,000 after buying an additional 7,994 shares during the period. Institutional investors own 79.67% of the company’s stock.
PH stock opened at $163.32 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.60 and a quick ratio of 1.07. Parker-Hannifin has a fifty-two week low of $143.00 and a fifty-two week high of $212.80. The company has a market capitalization of $22.03 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.27 and a beta of 1.56.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, November 8th. Parker-Hannifin’s payout ratio is 29.17%.
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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