Equities analysts expect that Eaton Co. PLC (NYSE:ETN) will report earnings of $1.04 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Eaton’s earnings, with the lowest EPS estimate coming in at $0.92 and the highest estimate coming in at $1.18. Eaton posted earnings of $1.52 per share during the same quarter last year, which would suggest a negative year over year growth rate of 31.6%. The business is scheduled to report its next earnings results on Tuesday, November 3rd.
On average, analysts expect that Eaton will report full year earnings of $3.93 per share for the current year, with EPS estimates ranging from $3.68 to $4.25. For the next fiscal year, analysts anticipate that the firm will report earnings of $4.90 per share, with EPS estimates ranging from $4.54 to $5.54. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Eaton.
Eaton (NYSE:ETN) last issued its earnings results on Wednesday, July 29th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.17. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.65 billion. Eaton had a net margin of 8.03% and a return on equity of 12.73%. The company’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.53 EPS.
Several research firms recently weighed in on ETN. Credit Suisse Group lifted their price objective on shares of Eaton from $94.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Deutsche Bank lifted their price objective on shares of Eaton from $104.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Morgan Stanley lifted their price objective on shares of Eaton from $89.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Oppenheimer reissued a “buy” rating and set a $100.00 price objective on shares of Eaton in a research note on Friday, July 31st. Finally, Royal Bank of Canada lifted their price objective on shares of Eaton from $81.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $96.39.
Shares of NYSE ETN traded up $0.43 during mid-day trading on Friday, hitting $102.58. The company’s stock had a trading volume of 1,545,524 shares, compared to its average volume of 1,554,524. The stock has a market cap of $41.04 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 2.37 and a beta of 1.17. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.50 and a quick ratio of 1.11. Eaton has a one year low of $56.42 and a one year high of $106.07. The company’s fifty day simple moving average is $98.05 and its 200-day simple moving average is $87.78.
The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $2.92 annualized dividend and a yield of 2.85%. Eaton’s dividend payout ratio (DPR) is currently 51.50%.
In other news, insider Sternadt Paulo Ruiz sold 3,047 shares of Eaton stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $103.42, for a total value of $315,120.74. Also, insider Richard H. Fearon sold 50,000 shares of Eaton stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $101.98, for a total transaction of $5,099,000.00. Following the completion of the sale, the insider now owns 150,384 shares in the company, valued at $15,336,160.32. The disclosure for this sale can be found here. Insiders sold 93,597 shares of company stock worth $9,550,626 over the last quarter. 0.54% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ETN. AllSquare Wealth Management LLC acquired a new stake in shares of Eaton in the first quarter valued at approximately $27,000. NuWave Investment Management LLC acquired a new position in Eaton during the second quarter worth $32,000. Hoover Financial Advisors Inc. acquired a new position in Eaton during the second quarter worth $33,000. Truvestments Capital LLC acquired a new position in Eaton during the first quarter worth $39,000. Finally, Rockbridge Investment Management LCC acquired a new position in Eaton during the second quarter worth $42,000. Institutional investors own 77.55% of the company’s stock.
Eaton Company Profile
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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