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.
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.
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