Zacks: Brokerages Anticipate Parker-Hannifin Corp (PH) Will Announce Quarterly Sales of $3.53 Billion

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Analysts predict that Parker-Hannifin Corp (NYSE:PH) will post $3.53 billion in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Parker-Hannifin’s earnings, with estimates ranging from $3.50 billion to $3.57 billion. Parker-Hannifin posted sales of $3.36 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 5.1%. The business is scheduled to issue its next earnings results on Thursday, November 1st.

On average, analysts expect that Parker-Hannifin will report full year sales of $14.73 billion for the current financial year, with estimates ranging from $14.61 billion to $14.82 billion. For the next fiscal year, analysts forecast that the company will report sales of $15.19 billion per share, with estimates ranging from $14.98 billion to $15.30 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Parker-Hannifin.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.31. Parker-Hannifin had a net margin of 7.42% and a return on equity of 24.77%. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the previous year, the firm earned $2.45 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis.

Several equities analysts have weighed in on PH shares. Buckingham Research lowered their price target on shares of Parker-Hannifin from $210.00 to $195.00 and set a “hold” rating on the stock in a report on Friday, April 27th. Citigroup lowered their target price on shares of Parker-Hannifin from $205.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, April 30th. Wells Fargo & Co reissued a “buy” rating on shares of Parker-Hannifin in a report on Tuesday, May 29th. ValuEngine downgraded shares of Parker-Hannifin from a “hold” rating to a “sell” rating in a report on Friday, June 22nd. Finally, Wolfe Research started coverage on shares of Parker-Hannifin in a report on Wednesday, June 27th. They issued a “market perform” rating on the stock. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $189.50.

In related news, VP Thomas C. Gentile sold 570 shares of the business’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $176.73, for a total value of $100,736.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Kurt A. Keller sold 7,005 shares of the business’s stock in a transaction on Monday, May 21st. The stock was sold at an average price of $182.04, for a total transaction of $1,275,190.20. Following the completion of the sale, the vice president now owns 31,834 shares in the company, valued at approximately $5,795,061.36. The disclosure for this sale can be found here. Insiders sold 9,723 shares of company stock worth $1,752,106 in the last three months. Insiders own 1.12% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. increased its position in Parker-Hannifin by 5,815.4% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 756 shares during the last quarter. Signaturefd LLC bought a new stake in Parker-Hannifin in the first quarter worth $128,000. Private Capital Group LLC increased its position in Parker-Hannifin by 272.2% in the first quarter. Private Capital Group LLC now owns 882 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 645 shares during the last quarter. Manchester Capital Management LLC increased its position in Parker-Hannifin by 55.9% in the second quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 350 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. bought a new position in Parker-Hannifin during the second quarter valued at $205,000. Institutional investors own 80.05% of the company’s stock.

Shares of Parker-Hannifin opened at $168.00 on Monday, Marketbeat.com reports. The company has a current ratio of 1.59, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74. Parker-Hannifin has a 1-year low of $152.47 and a 1-year high of $212.80. The company has a market cap of $22.73 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.34 and a beta of 1.42.

About Parker-Hannifin

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

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