Parker Hannifin Corp First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Parker Hannifin Corp (NYSE:PH) will unveil its latest earnings on Tuesday, October 18, 2011. Parker Hannifin manufactures motion and control technologies and systems, including electromechanical controls, fluid power systems, and related components.

Parker Hannifin Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.70 per share, a rise of 12.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.82. Between one and three months ago, the average estimate moved down. It also has dropped from $1.71 during the last month. For the year, analysts are projecting net income of $7.06 per share, a rise of 10.8% from last year.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the fourth quarter of the last fiscal year, the company reported profit of $1.79 per share versus a mean estimate of net income of $1.80 per share. In the third quarter of the last fiscal year, the company beat estimates by 14 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 13.1% in revenue from the year-earlier quarter to $3.2 billion.

Analyst Ratings: Analysts seem relatively indifferent about Parker Hannifin with eight of 13 analysts surveyed maintaining a hold rating.

A Look Back: In the fourth quarter of the last fiscal year, profit rose 31.5% to $292.2 million ($1.79 a share) from $222.2 million ($1.36 a share) the year earlier, but fell short analyst expectations. Revenue rose 22.4% to $3.41 billion from $2.79 billion.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 23.6%, with the biggest boost coming in the first quarter of the last fiscal year when revenue rose 26.5% from the year earlier quarter.

The company has seen net income rise in three straight quarters. Net income rose 81.7% in the third quarter of the last fiscal year and more than twofold in the second quarter of the last fiscal year.

Competitors to Watch: Actuant Corporation (NYSE:ATU), Crane Co. (NYSE:CR), Sun Hydraulics Corporation (NASDAQ:SNHY), Omega Flex, Inc. (NASDAQ:OFLX) and Eaton Corporation (NYSE:ETN).

Stock Price Performance: During July 19, 2011 to October 12, 2011, the stock price had fallen $14.19 (-16.3%) from $87.04 to $72.85. The stock price saw one of its best stretches over the last year between March 15, 2011 and April 4, 2011 when shares rose for 15-straight days, rising 12.2% (+$10.39) over that span. It saw one of its worst periods between July 1, 2011 and July 12, 2011 when shares fell for seven-straight days, falling 5.9% (-$5.36) over that span. Shares are down $12.32 (-14.5%) year to date.

(Source: Xignite Financials)

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