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Market Update: Parker-Hannifin Corporation (NYSE:PH) – Parker Declares Quarterly Cash Dividend

[GlobeNewswire] – CLEVELAND, Jan. 21, 2016– Parker Hannifin Corporation, the global leader in motion and control technologies, today announced that its Board of Directors has declared a regular quarterly cash dividend … Read more on this. Parker-Hannifin Corporation (PH) , with a current market cap of $11.96B, opened this morning at $86.66. Today’s price range has been between $85.90 and $89.61 per share and has traded between $83.32 and $125.94 over the past year. Parker Hannifin (PH) shares are currently priced at 14.35x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 16.04x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $2.52 per share annually in dividends, yielding 2.87%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $1.18 per share, which would be $0.66 worse than the year-ago quarter and a $0.11 sequential decrease. The full-year EPS estimate is $6.03 which would be a $1.22 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.69 Billion. If realized, that would be a 14.06% decrease over the year-ago quarter. Recently, Jefferies downgraded PH from Buy to Hold (Jan 20, 2016). Previously, Argus downgraded PH from Buy to Hold. When considering if the stock is under or overvalued, the average price target is $98.93, which is 14.16% above where the stock opened this morning. See more in (NYSE:PH) Similar Articles: Company Update: Parker-Hannifin Corporation (NYSE:PH) – Parker Hannifin Announces Retirement of Donald E. Washkewicz, Chairman of the Board and former CEO and President, After 43 Years of Service Market Update (NYSE:PH): Parker Declares Quarterly Cash Dividend Company Update: Parker-Hannifin Corporation (NYSE:PH) – Parker Hannifin Unveils New Win Strategy at New York Investor Meeting
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