Analysts have become increasingly bearish on Parker-Hannifin in the month leading up to the company's third-quarter earnings announcement scheduled for Tuesday, April 28, 2015. The consensus analyst estimate has moved from $2.03 a share to the current prediction of earnings of $2.01 a share.
The consensus estimate has fallen over the past three months, from $2.04. For the fiscal year, analysts are projecting earnings of $8.04 per share. Analysts look for revenue to decrease 2% year-over-year to $3.30 billion for the quarter, after being $3.36 billion a year ago. For the year, revenue is projected to roll in at $13.14 billion.
A drop in revenue in the second quarter came after three straight quarters of rising revenue.
For three consecutive quarters, the company has seen its profits rise. The 10% year-over-year growth in net income in the most recent quarter came after the 15% profit growth in the first quarter and the 11% rise in the fourth quarter.
Parker-Hannifin manufactures motion and control technologies and systems, including electromechanical controls, fluid power systems, and related components. Other companies in the misc. fabricated products industry with upcoming earnings release dates include: Crane, Sun Hydraulics and Actuant.
Earnings estimates provided by Zacks.
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