Despite an expected dip in profit, analysts are generally optimistic about Parker-Hannifin as it prepares to reports its first-quarter earnings on Tuesday, October 28, 2014. The consensus earnings per share estimate is $1.66 per share.
The consensus estimate has dipped over the past three months from $1.85. For the fiscal year, analysts are projecting earnings of $7.59 per share. Revenue is projected to be 2% above the year-earlier total of $3.23 billion at $3.28 billion for the quarter. For the year, revenue is projected to come in at $13.55 billion.
Revenue has gone up for three straight quarters. The 9% revenue increase brought the figure up to $3.53 billion in the most recent quarter. Looking back further, revenue increased 2% in the third quarter from the year earlier and 1% in the second quarter.
The company has been reaping profit in the past eight quarters, and for the last four, it has seen an average of 15% growth in profit year-over-year. The biggest gain came in the second quarter with a 40% surge.
The majority of analysts (62%) rate Parker-Hannifin as a buy. This compares favorably to the analyst ratings of six similar companies, which average 52% buys.
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 and Sun Hydraulics.
Earnings estimates provided by Zacks.
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