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Market Update: Parker-Hannifin Corporation (NYSE:PH) – FDA Clears Parker’s Indego® Exoskeleton for Clinical, Personal Use

[GlobeNewswire] – CLEVELAND, March 10, 2016– Parker Hannifin Corporation, the global leader in motion and control technologies, today announced that the U.S. Food and Drug Administration has given clearance to market and … Read more on this. Parker-Hannifin Corporation (PH) , with a current value of $14.33B, started trading this morning at $106.52. Today’s price range has been between $105.42 and $107.81 per share with a trailing 52-week range being $83.32 to $125.33. PH shares are currently priced at 17.52x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.10x forward p/e ratio. The company pays shareholders $2.52 per share in dividend income per year, for a current yield of 2.37%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $1.42 per share, which would be $0.64 worse than the year-ago quarter and a $0.22 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $6.09 would be a $1.16 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.81 Billion. If reported, that would be a 11.08% decrease over the year-ago quarter. In terms of ratings, Jefferies downgraded PH from Buy to Hold (Jan 20, 2016). Previously, Argus downgraded PH from Buy to Hold. With the above information in mind, readers should note that the average price target is $96.80, which is 9.13% below where the stock opened this morning. See more in (NYSE:PH) Similar Articles: Market Update: Parker-Hannifin Corporation (NYSE:PH) – Parker Declares Quarterly Cash Dividend Company Update: Parker-Hannifin Corporation (NYSE:PH) – Parker Hannifin Announces Retirement of Donald E. Washkewicz, Chairman of the Board and former CEO and President, After 43 Years of Service Company Update: Parker-Hannifin Corporation (NYSE:PH) – Parker Hannifin Unveils New Win Strategy at New York Investor Meeting
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