Parker Hannifin Reports Miss in Expected Earnings (PH)
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.