Parker-Hannifin is positioned to beat consensus estimates again in its next quarterly report, according to Zacks Investment Research. The motion and control products maker has averaged a 7.95% earnings surprise over its last two quarters, reporting $9.27 per share against an $8.29 consensus in the most recent quarter, an 11.82% surprise, after a 4.08% beat the quarter before. The stock currently carries a Zacks Earnings ESP of +0.75% alongside a Zacks Rank #2 (Buy), a combination Zacks research shows produces a positive surprise nearly 70% of the time. Zacks notes that a positive Earnings ESP paired with a Zacks Rank #3 (Hold) or better is a strong indicator of an upcoming beat.
Parker-Hannifin CorporationZacks flags Parker-Hannifin's positive Earnings ESP and #2 Buy rank as pointing to another consensus earnings beat.
