Market Update (NYSE:PH): Parker Aerospace Chinese Aerospace Joint Ventures Receive Broad International and Domestic Certification

[ Business Wire] – NANJING & XI’AN, China–(BUSINESSWIRE)– Parker Aerospace, a business unit of Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, has announced that its two joint … Read more on this. Parker-Hannifin Corporation (PH) , with a current value of $13.50B, started the session at $100.18. Today, shares have traded between $98.46 and $100.54 per share with its 52-week range being $83.32 to $125.94. PH shares are currently priced at 16.57x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 17.46x earnings multiple. And for income investors, the company pays shareholders $2.52 per share annually in dividends, yielding 2.53%. According to a consensus of 17 analysts, the earnings estimate of $1.41 per share would be $0.65 worse than the year-ago quarter and a $0.23 sequential decrease. The full-year EPS estimate is $6.08 which would be a $1.17 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.80 Billion. If realized, that would be a 11.39% decrease over the year-ago quarter. Recently, Jefferies downgraded PH from Buy to Hold (Jan 20, 2016). Previously, Argus downgraded PH from Buy to Hold. Given all the information above, we should disclose to readers that the average price target is $96.13, which is 4.04% below than it 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 to Announce Fiscal 2016 Second Quarter Earnings on January 26; Conference Call and Webcast Scheduled for 11 a.m. Eastern Market Update: Parker-Hannifin Corporation (NYSE:PH) – Parker to Present at Gabelli Aircraft Supplier Conference September 9 at 11:30 a.m. Eastern