Parker-Hannifin Co. expects earnings of $ 3.88 per share in the second quarter of 2022 (NYSE: PH)
Parker-Hannifin Co. (NYSE: PH) – KeyCorp released its earnings per share (EPS) estimates for the second quarter of 2022 for shares of Parker-Hannifin in a research report that was sent to customers Thursday, November 4th and investors issued. KeyCorp analyst J. Hammond now expects the industrial products company to earn $ 3.88 per share for the quarter, up from its previous forecast of $ 3.92. KeyCorp has an “overweight” rating and a target price of $ 385.00 on the stock. KeyCorp also estimates Parker-Hannifin’s earnings for the fourth quarter of 2022 at $ 4.85 per share, for fiscal 2022 at $ 17.50 per share, and for fiscal 2023 at $ 19.25 known per share. Parker-Hannifin (NYSE: PH) last released its quarterly earnings data on Thursday, November 4th. The industrial products company reported earnings per share (EPS) of $ 4.26 for the quarter, beating the consensus estimate of $ 3.76 by $ 0.50. Parker-Hannifin had a net margin of 12.16% and a return on equity of 26.68%. The company had revenue of $ 3.76 billion for the quarter, compared to analyst estimates of $ 3.64 billion. For the same quarter last year, the company had earnings per share of $ 3.07. The company’s quarterly sales increased 16.5% compared to the same quarter last year.
A number of other research firms have also looked at PH. Melius upgraded Parker-Hannifin’s shares from a “hold” rating to a “buy” rating in a report on Tuesday, October 12th. BMO Capital Markets raised its price target for Parker Hannifin shares from USD 365.00 to USD 375.00 and rated the company as “outperform” in a report dated Thursday, August 26th. Deutsche Bank Aktiengesellschaft raised its price target for Parker Hannifin shares from US $ 314.00 to US $ 327.00 and gave the company a “Hold” rating in a report on Friday. Wells Fargo & Company began reporting on Parker-Hannifin’s shares in a report on Thursday, October 7th. They set an “overweight” rating and a target price of $ 337.00 for the company. Finally, Credit Suisse Group raised its price target for Parker Hannifin shares from USD 385.00 to USD 415.00 and rated the company as “Outperform” in a report on Friday. Three research analysts for stocks have given the stock a hold rating and twelve with a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $ 353.81.
Parker Hannifin share opened on Monday at $ 325.75. Parker-Hannifin has a 52-week low of $ 236.11 and a 52-week high of $ 330.60. The company has a fifty-day moving average of $ 293.67 and a 200-day moving average of $ 301.03. The company has a market capitalization of $ 41.88 billion, a P / E of 24.47, a PEG of 1.98, and a beta of 1.74. The company has a quick ratio of 1.14, a current ratio of 1.81 and leverage of 0.78.
A number of institutional investors recently increased or decreased their stake in PH. Red Door Wealth Management LLC acquired a new position at Parker-Hannifin valued at approximately $ 25,000 in the second quarter. The Clean Yield Group added a new position at Parker-Hannifin in the second quarter valued at approximately $ 33,000. Parisi Gray Wealth Management joined Parker-Hannifin in a new position valued at approximately $ 55,000 in the second quarter. Stephenson National Bank & Trust added a new position in Parker-Hannifin for approximately $ 56,000 in the third quarter. Eventually, SRS Capital Advisors Inc. acquired a new position at Parker-Hannifin in the second quarter valued at approximately $ 64,000. 79.50% of the shares are currently owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 3rd. Shareholders of record on Friday November 12th will receive a dividend of $ 1.03 per share. The ex-dividend date of this dividend is Wednesday November 10th. This equates to an annualized dividend of $ 4.12 and a yield of 1.26%. Parker-Hannifin’s payout ratio is 27.39%.
Parker Hannifin Company Profile
Parker-Hannifin Corp. deals with the manufacture of motion and control technologies and systems. It operates in the Diversified Industrial and Aerospace segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in the areas of manufacturing, packaging, processing, transport, mobile construction, refrigeration and air conditioning technology, agricultural and military machinery, and the equipment industry.
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