Parker-Hannifin (PH) Set to Announce Earnings on Thursday

Parker-Hannifin (NYSE:PH) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $6.10 per share for the quarter. Parker-Hannifin has set its FY24 guidance at $23.90-24.50 EPS and its FY 2024 guidance at 23.900-24.500 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.76 earnings per share. On average, analysts expect Parker-Hannifin to post $24 EPS for the current fiscal year and $26 EPS for the next fiscal year.

Parker-Hannifin Price Performance

Shares of PH stock traded up $4.51 during trading hours on Tuesday, reaching $558.95. The company had a trading volume of 39,234 shares, compared to its average volume of 577,480. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The stock has a fifty day moving average of $543.95 and a 200-day moving average of $479.82. The company has a market capitalization of $71.77 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 2.03 and a beta of 1.52. Parker-Hannifin has a 12-month low of $318.32 and a 12-month high of $570.15.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be given a $1.63 dividend. The ex-dividend date is Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.17%. Parker-Hannifin’s dividend payout ratio is 29.31%.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of analyst reports. Barclays upped their price target on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Truist Financial assumed coverage on Parker-Hannifin in a research report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective for the company. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. The Goldman Sachs Group reiterated a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Finally, Stifel Nicolaus increased their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $515.38.

Insider Activity

In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,079 shares of company stock worth $6,099,566. Corporate insiders own 1.03% 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 through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.