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

Parker-Hannifin (NYSE:PH) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $24.65-24.85 for the period, compared to the consensus EPS 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

Several equities research analysts have recently issued reports on the stock. Mizuho increased their target price on shares of Parker-Hannifin from $490.00 to $550.00 and gave the stock a neutral rating in a research note on Friday. KeyCorp upped their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Barclays lowered their price objective on Parker-Hannifin from $625.00 to $618.00 and set an overweight rating on the stock in a report on Friday. Finally, Evercore ISI raised their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the company an outperform rating in a report on Tuesday, February 20th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Parker-Hannifin has an average rating of Moderate Buy and an average price target of $523.94.

Parker-Hannifin Price Performance

PH stock opened at $536.18 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.49. The firm has a market capitalization of $68.85 billion, a P/E ratio of 25.27, a P/E/G ratio of 1.93 and a beta of 1.51. The business’s 50-day moving average is $544.96 and its two-hundred day moving average is $482.63. Parker-Hannifin has a 1 year low of $319.14 and a 1 year high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping 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 business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the company earned $5.93 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. Analysts anticipate that Parker-Hannifin will post 24.62 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio (DPR) is currently 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.