Parker-Hannifin (NYSE:PH) Announces Quarterly Earnings Results, Beats Expectations By $0.55 EPS

Parker-Hannifin (NYSE:PH) announced its quarterly earnings data on Thursday. The industrial products company reported $6.77 earnings per share for the quarter, beating the consensus estimate of $6.22 by $0.55, Briefing.com reports. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. Parker-Hannifin’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $6.08 earnings per share. Parker-Hannifin updated its FY25 guidance to $26.30-27.00 EPS and its FY 2025 guidance to 26.300-27.000 EPS.

Parker-Hannifin Trading Up 10.8 %

Shares of NYSE PH traded up $55.53 during mid-day trading on Thursday, hitting $568.03. 1,418,144 shares of the company traded hands, compared to its average volume of 668,769. Parker-Hannifin has a 1 year low of $362.49 and a 1 year high of $570.15. The stock has a market capitalization of $73.02 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.04 and a beta of 1.44. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average of $525.02 and a two-hundred day moving average of $530.46.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Raymond James assumed coverage on Parker-Hannifin in a research note on Friday, June 28th. They issued an “outperform” rating and a $610.00 target price for the company. Wells Fargo & Company decreased their target price on Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. KeyCorp lifted their target price on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and lifted their target price for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. Finally, Stifel Nicolaus decreased their target price on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $594.69.

Parker-Hannifin Company Profile

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.