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Parker Hannifin Reports Miss in Expected Earnings (PH)

By
October 19th, 2012

Parker Hannifin Reports Miss in Expected Earnings (PH)

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Motion and control technologies manufacturer, Parker-Hannifin Corporation(PH) reported a shortfall in quarterly profits Friday.

The Cleveland based company reported earnings of $1.57 a share, shy of analysts expectations of $1.73 a share. Revenue was reported at $3.21 billion, falling short from the excepted $3.23 billion.

The company estimates FY2013 earnings in the range of $6.15-$6.75, compared with estimates of $7.44.

Parker-Hannifin shares were down $6.82, or 8.02% during premarket trading Friday.

The Bottom Line
Shares of Parker-Hannifin (PH) have a 1.93% dividend yield, based on last night’s closing stock price of $85.07. The stock has technical support in the $79-$80 price area. The stock is trading near the all-time high areas of $90-$91 a share.

Parker-Hannifin Corporation(PH) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.