Parker-Hannifin Corporation (NYSE:PH) Updates FY18 Earnings Guidance

Parker-Hannifin Corporation (NYSE:PH) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $8.45-9.15 for the period, compared to the Thomson Reuters consensus estimate of $9.06.

Parker-Hannifin Corporation (NYSE:PH) opened at 157.02 on Friday. The stock has a market cap of $20.93 billion, a P/E ratio of 21.66 and a beta of 1.40. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $167.50. The firm’s 50-day moving average is $162.43 and its 200-day moving average is $158.07.

Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.14. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 earnings per share. On average, analysts forecast that Parker-Hannifin Corporation will post $9.06 EPS for the current year.

PH has been the topic of several recent analyst reports. Stifel Nicolaus reissued a buy rating and issued a $189.00 price target on shares of Parker-Hannifin Corporation in a research note on Friday, July 14th. BidaskClub raised Parker-Hannifin Corporation from a hold rating to a buy rating in a research note on Wednesday, June 21st. ValuEngine raised Parker-Hannifin Corporation from a hold rating to a buy rating in a research note on Wednesday, June 14th. Credit Suisse Group set a $189.00 price target on Parker-Hannifin Corporation and gave the company a buy rating in a research note on Sunday, May 28th. Finally, J P Morgan Chase & Co set a $175.00 price target on Parker-Hannifin Corporation and gave the company a buy rating in a research note on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $168.69.

In other Parker-Hannifin Corporation news, VP John G. Dedinsky, Jr. sold 2,530 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $160.98, for a total value of $407,279.40. Following the completion of the transaction, the vice president now owns 21,753 shares in the company, valued at approximately $3,501,797.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Martin C. Maxwell sold 2,850 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $160.08, for a total value of $456,228.00. Following the completion of the transaction, the vice president now owns 21,968 shares of the company’s stock, valued at approximately $3,516,637.44. The disclosure for this sale can be found here. 2.73% of the stock is owned by corporate insiders.

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About Parker-Hannifin Corporation

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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