Analysts on Wall Street project that Parker-Hannifin (PH) will announce quarterly earnings of $6.73 per share in its forthcoming report, representing an increase of 3.4% year over year. Revenues are projected to reach $5 billion, declining 1.5% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.4% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Parker-Hannifin metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts forecast 'Net sales- Aerospace Systems' to reach $1.56 billion. The estimate indicates a year-over-year change of +10.7%.
The collective assessment of analysts points to an estimated 'Net sales- Diversified Industrial- International' of $1.36 billion. The estimate indicates a change of -5.2% from the prior-year quarter.
According to the collective judgment of analysts, 'Net sales- Diversified Industrial- North America' should come in at $2.05 billion. The estimate indicates a change of -8.3% from the prior-year quarter.
Analysts' assessment points toward 'Aerospace Systems - Change in Percentage - As Reported' reaching 10.2%. Compared to the present estimate, the company reported 17.9% in the same quarter last year.
Based on the collective assessment of analysts, 'Adjusted Segment operating income- Diversified Industrial- North America' should arrive at $517.40 million. Compared to the current estimate, the company reported $538.30 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Adjusted Segment operating income- Aerospace Systems' will likely reach $434.73 million. The estimate is in contrast to the year-ago figure of $376.10 million.
It is projected by analysts that the 'Adjusted Segment operating income- Diversified Industrial- International' will reach $326.30 million. Compared to the present estimate, the company reported $336.57 million in the same quarter last year.
View all Key Company Metrics for Parker-Hannifin here>>>
Over the past month, Parker-Hannifin shares have recorded returns of -0.6% versus the Zacks S&P 500 composite's -4.3% change. Based on its Zacks Rank #3 (Hold), PH will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Parker-Hannifin Corporation (PH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
