Parker-Hannifin Corporation (PH) Updates FY18 Earnings Guidance

Parker-Hannifin Corporation (NYSE:PH) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $9.10-9.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $9.15.

Shares of Parker-Hannifin Corporation (NYSE PH) opened at $182.23 on Monday. Parker-Hannifin Corporation has a fifty-two week low of $134.03 and a fifty-two week high of $189.83. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $24,277.79, a PE ratio of 20.92, a P/E/G ratio of 1.64 and a beta of 1.40.

Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.22. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin Corporation had a return on equity of 23.61% and a net margin of 8.37%. Parker-Hannifin Corporation’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 earnings per share. equities analysts expect that Parker-Hannifin Corporation will post 9.55 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, November 9th. Parker-Hannifin Corporation’s dividend payout ratio is presently 33.93%.

PH has been the topic of several recent research reports. Cowen and Company reissued a hold rating and set a $140.00 price objective on shares of Parker-Hannifin Corporation in a report on Friday, October 6th. Zacks Investment Research raised Parker-Hannifin Corporation from a hold rating to a buy rating and set a $208.00 target price for the company in a research report on Tuesday, November 7th. Robert W. Baird lifted their price objective on Parker-Hannifin Corporation from $183.00 to $194.00 and gave the stock a neutral rating in a research report on Friday, November 3rd. BMO Capital Markets boosted their target price on Parker-Hannifin Corporation from $200.00 to $205.00 and gave the company an outperform rating in a research report on Monday, November 6th. Finally, BidaskClub downgraded Parker-Hannifin Corporation from a buy rating to a hold rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $188.37.

In related news, COO Lee C. Banks sold 5,286 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $186.38, for a total value of $985,204.68. Following the sale, the chief operating officer now owns 112,808 shares in the company, valued at $21,025,155.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Scaminace sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The disclosure for this sale can be found here. Insiders have sold 11,215 shares of company stock valued at $1,964,758 in the last ninety days. Insiders own 1.12% 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.

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

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