Parker-Hannifin (NYSE:PH) Releases FY24 Earnings Guidance

Parker-Hannifin (NYSE:PH) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $24.65-24.85 for the period, compared to the consensus estimate of $24.44. The company issued revenue guidance of +~4% yr/yr to ~$19.83 billion, compared to the consensus revenue estimate of $19.87 billion.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PH shares. Evercore ISI lifted their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the company an outperform rating in a research report on Tuesday, February 20th. TD Cowen upgraded Parker-Hannifin from an underperform rating to a market perform rating and lifted their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. Stifel Nicolaus increased their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Barclays reduced their target price on shares of Parker-Hannifin from $625.00 to $618.00 and set an overweight rating for the company in a research note on Friday. Finally, Mizuho raised their price target on shares of Parker-Hannifin from $490.00 to $550.00 and gave the company a neutral rating in a report on Friday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $523.94.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $536.18 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $544.96 and a 200 day moving average price of $482.63. The company has a market cap of $68.85 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.93 and a beta of 1.51. Parker-Hannifin has a twelve month low of $319.14 and a twelve month high of $570.15.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the prior year, the business earned $5.93 earnings per share. Parker-Hannifin’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts predict that Parker-Hannifin will post 24.62 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.90%.

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.