Parker-Hannifin Corp (NYSE: PH) has reported earnings for its first fiscal quarter (ending September 30) of $5.07 versus $3.02 for the same period a year ago — an increase of 68%. However, this result fell short of the consensus estimate of $5.31 by $-0.24. E.P.S. were $18.28 for the latest four quarters through September 30 versus $9.75 for the same period a year ago — an increase of 87%.
Recent Price Action
Parker-Hannifin Corp (NYSE: PH) stock closed at $404.58 on 11/2/23 after a very large increase of 9.2%. The stock has been exceptionally strong relative to the market over the last nine months and has risen 10.1% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, PH is expected to continue to be a major Value Builder.
Parker-Hannifin has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Parker-Hannifin has a slightly negative Appreciation Score of 34 but a very high Power Rating of 88, triggering the Positive Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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