PH Reiterates to Neutral - Analyst Blog
29 Agosto 2011 - 10:45AM
Zacks
We recently maintained a Neutral
recommendation on Cleveland, Ohio-based, Parker Hannifin (PH).
The company is a leading worldwide
provider of full-line diversified manufacturer of motion and
control technologies and systems, including fluid power systems,
electromechanical controls and related components. In addition to
motion and control products, the company is also a leading
worldwide producer of fluid purification, fluid and fuel control,
process instrumentation, air conditioning, refrigeration,
electromagnetic shielding and thermal management products and
systems. Parker Hannifin continues to benefit from a recovering
economy and implementation of the Win Strategy. The company focuses
on providing leading services to its customers, lean operations and
investments in new developments, which will help achieve strong
earnings growth ahead.
The company recently came out with
its fourth-quarter fiscal 2011 earnings results, reporting earnings
per share of $1.79, slightly below the Zacks Consensus Estimate of
$1.80 but above the prior-year earnings of $1.35.
For full-year fiscal 2011, earnings
per share of $6.37, were in line with the Zacks Consensus Estimate.
The company achieved record earnings result during the year and
also a record sales and earnings for the quarter.
The company’s segments - Industrial
International segment achieved highest sales growth, with its
revenue increasing by 33.8% year over year to $1.4 billion. This
was followed by Industrial North America segment revenue surging
18.6% to $1.2 billion and Climate and Industrial Controls segment
revenue by 15.2% to $276.8 million. Aerospace revenue was up 9.3%
to $521.9 million.
Parker Hannifin expects fiscal 2012
earnings per share to be in the range of $6.70 to $7.50. The
company continues to focus on implementation of Win Strategy, a
prime benefactor for Parker. Parker-Hannifin aims on providing
leading services to its customers, new product developments and
system innovations. The company also targets acquisitions for
growth.
However, earnings in the quarter
was negatively impacted by higher charges related to litigation,
incentive compensation and asset write-offs. The company expects
next quarter’s earnings to be affected by higher nonrecurring
expenses in Aerospace, as well as higher other expenses due to
stock option; and higher taxes offset by favorable interest in
share count as a result of share repurchases. Major competitors of
Parker are Eaton Corporation (ETN) and
Honeywell International Inc. (HON).
Thus, we expect the company to
perform in line with the market and hence maintained a Neutral
recommendation .
EATON CORP (ETN): Free Stock Analysis Report
HONEYWELL INTL (HON): Free Stock Analysis Report
PARKER HANNIFIN (PH): Free Stock Analysis Report
Zacks Investment Research
Grafico Azioni Eaton (NYSE:ETN)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Eaton (NYSE:ETN)
Storico
Da Lug 2023 a Lug 2024