$3.67 Billion in Sales Expected for Parker-Hannifin Corp (NYSE:PH) This Quarter

Analysts predict that Parker-Hannifin Corp (NYSE:PH) will post $3.67 billion in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Parker-Hannifin’s earnings. The highest sales estimate is $3.73 billion and the lowest is $3.62 billion. Parker-Hannifin posted sales of $3.82 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 3.9%. The company is scheduled to issue its next earnings results before the market opens on Thursday, August 1st.

On average, analysts expect that Parker-Hannifin will report full-year sales of $14.30 billion for the current year, with estimates ranging from $14.23 billion to $14.37 billion. For the next financial year, analysts expect that the company will post sales of $14.44 billion, with estimates ranging from $14.05 billion to $15.14 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Parker-Hannifin.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.20. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Parker-Hannifin had a net margin of 10.04% and a return on equity of 26.27%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the business earned $3.22 EPS.

A number of research analysts have issued reports on the company. Citigroup lifted their target price on Parker-Hannifin from $178.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. lowered Parker-Hannifin from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $186.00 to $169.00 in a research note on Wednesday, July 10th. Zacks Investment Research lowered Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 price target on the stock. in a research note on Wednesday, July 17th. Barclays boosted their price target on Parker-Hannifin from $178.00 to $186.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Finally, Stifel Nicolaus dropped their price target on Parker-Hannifin from $179.00 to $164.00 and set a “hold” rating on the stock in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $177.85.

Shares of NYSE PH traded down $2.22 during trading hours on Thursday, hitting $172.86. The company had a trading volume of 2,033,278 shares, compared to its average volume of 922,499. The stock has a market capitalization of $22.17 billion, a PE ratio of 16.59, a P/E/G ratio of 1.57 and a beta of 1.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.07. Parker-Hannifin has a 1-year low of $140.82 and a 1-year high of $193.19. The firm’s 50 day moving average price is $169.43.

In other Parker-Hannifin news, VP Robert W. Malone sold 336 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $156.76, for a total transaction of $52,671.36. Following the sale, the vice president now directly owns 24,260 shares of the company’s stock, valued at approximately $3,802,997.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.12% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Parker-Hannifin in the fourth quarter worth $357,950,000. Pennsylvania Trust Co grew its stake in shares of Parker-Hannifin by 29,994.5% in the first quarter. Pennsylvania Trust Co now owns 1,625,103 shares of the industrial products company’s stock worth $117,980,000 after acquiring an additional 1,619,703 shares in the last quarter. Thoroughbred Financial Services LLC grew its stake in shares of Parker-Hannifin by 17,582.8% in the second quarter. Thoroughbred Financial Services LLC now owns 511,563 shares of the industrial products company’s stock worth $51,156,000 after acquiring an additional 508,670 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Parker-Hannifin by 52.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 596,840 shares of the industrial products company’s stock worth $102,434,000 after acquiring an additional 205,670 shares in the last quarter. Finally, Scout Investments Inc. acquired a new position in shares of Parker-Hannifin in the first quarter worth $33,768,000. Hedge funds and other institutional investors own 79.81% of the company’s stock.

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.

Featured Article: 12b-1 Fees

Get a free copy of the Zacks research report on Parker-Hannifin (PH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.