Parker-Hannifin Corp (PH) Releases Earnings Results, Beats Expectations By $0.06 EPS

Parker-Hannifin Corp (PH) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $1.51 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $1.45. The company posted revenue of $2828.70 million in the period, compared to analysts expectations of $2821.71 million. The company’s revenue was down -10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.06 EPS.

Many Wall Street Analysts have commented on Parker-Hannifin Corp. Parker-Hannifin Corp was Initiated by Avondale to “Mkt Perform” on Apr 8, 2016. Barclays Initiated Parker-Hannifin Corp on Apr 1, 2016 to “Equal Weight”, Price Target of the shares are set at $116.Goldman Downgraded Parker-Hannifin Corp on Mar 28, 2016 to ” Sell”, Price Target of the shares are set at $92.

Parker-Hannifin Corp opened for trading at $113.3 and hit $114.55 on the upside on Friday, eventually ending the session at $114.01, with a gain of 1.03% or 1.16 points. The heightened volatility saw the trading volume jump to 8,20,588 shares. Company has a market cap of $15,403 M.

In a different news, on Feb 8, 2016, Candy M Obourn (director) sold 2,581 shares at $100.57 per share price. According to the SEC, on Nov 2, 2015, Andrew M Weeks (VP, Pres-Hydraulics Grp) sold 1,364 shares at $103.66 per share price. On Jun 11, 2015, John G Jr Dedinsky (VP-Gbl Supply Chain/Procuremnt) sold 2,952 shares at $119.93 per share price, according to the Form-4 filing with the securities and exchange commission.

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems providing precision engineered solutions for a wide variety of mobile industrial and aerospace markets. The Company’s manufacturing service sales distribution and administrative facilities are located in the United States and in 49 other countries. Its products are supplied to approximately 450000 customers in manufacturing transportation and processing industry. The Company has two reporting segments: Diversified Industrial Segment products are made to original equipment manufacturers and their replacement markets in manufacturing packaging processing transportation mobile construction refrigeration and air conditioning agricultural and military machinery and equipment industries and Aerospace Systems Segment products are made in the commercial and military aerospace markets to both original equipment manufacturers and to end users for spares maintenance repair and overhaul.

Parker-Hannifin Corp

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