The upcoming report from Parker-Hannifin (PH) is expected to reveal quarterly earnings of $8.23 per share, indicating an increase of 14% compared to the year-ago period. Analysts forecast revenues of $5.82 billion, representing an increase of 14.5% year over year.
The consensus EPS estimate for the quarter has been revised 1% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Parker-Hannifin metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Net Sales- Diversified Industrial- International' will reach $1.60 billion. The estimate points to a change of +14.5% from the year-ago quarter.
Analysts' assessment points toward 'Net Sales- Aerospace Systems' reaching $1.81 billion. The estimate suggests a change of +10.2% year over year.
The collective assessment of analysts points to an estimated 'Reported sales growth - Aerospace Systems' of 10.2%. Compared to the current estimate, the company reported 13.3% in the same quarter of the previous year.
The average prediction of analysts places 'Reported sales growth - Diversified Industrial International Businesses' at 14.5%. The estimate compares to the year-ago value of 3.2%.
Analysts predict that the 'Reported sales growth' will reach 14.4%. Compared to the current estimate, the company reported 3.2% in the same quarter of the previous year.
According to the collective judgment of analysts, 'Organic sales growth - Aerospace Systems' should come in at 10.3%. Compared to the current estimate, the company reported 12.8% in the same quarter of the previous year.
The consensus among analysts is that 'Adjusted segment operating income- Diversified Industrial- North America' will reach $636.58 million. The estimate is in contrast to the year-ago figure of $552.00 million.
The combined assessment of analysts suggests that 'Adjusted segment operating income- Aerospace Systems' will likely reach $543.86 million. Compared to the current estimate, the company reported $492.00 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Adjusted segment operating income- Diversified Industrial- International' should arrive at $411.73 million. Compared to the current estimate, the company reported $350.00 million in the same quarter of the previous year.
View all Key Company Metrics for Parker-Hannifin here>>>Over the past month, Parker-Hannifin shares have recorded returns of -7.5% versus the Zacks S&P 500 composite's -0.9% change. Based on its Zacks Rank #4 (Sell), PH will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power .
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Parker-Hannifin Corporation (PH): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).