Eaton Co. PLC (ETN) Expected to Announce Quarterly Sales of $5.49 Billion

Wall Street brokerages expect Eaton Co. PLC (NYSE:ETN) to post sales of $5.49 billion for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Eaton’s earnings. The lowest sales estimate is $5.45 billion and the highest is $5.57 billion. Eaton posted sales of $5.21 billion in the same quarter last year, which would indicate a positive year over year growth rate of 5.4%. The firm is expected to report its next earnings results before the market opens on Tuesday, October 30th.

On average, analysts expect that Eaton will report full year sales of $21.70 billion for the current financial year, with estimates ranging from $21.59 billion to $21.85 billion. For the next financial year, analysts forecast that the firm will report sales of $22.62 billion, with estimates ranging from $22.18 billion to $23.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Eaton.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, July 31st. The industrial products company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.07. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.45 billion. Eaton had a return on equity of 13.11% and a net margin of 14.80%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 EPS.



Several research firms have commented on ETN. UBS Group upgraded Eaton from a “neutral” rating to a “buy” rating and boosted their target price for the company from $91.00 to $100.00 in a research note on Friday, September 21st. Wells Fargo & Co restated a “buy” rating on shares of Eaton in a research note on Wednesday, September 26th. Deutsche Bank boosted their target price on Eaton from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Friday, September 28th. Barclays boosted their target price on Eaton from $71.00 to $77.00 and gave the company an “underweight” rating in a research note on Wednesday, August 1st. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $80.00 price objective on shares of Eaton in a research note on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $89.06.

NYSE ETN traded down $0.19 during trading on Friday, hitting $72.01. The stock had a trading volume of 4,471,557 shares, compared to its average volume of 2,803,254. The stock has a market capitalization of $31.20 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.31 and a beta of 1.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.96 and a current ratio of 1.47. Eaton has a 12 month low of $70.20 and a 12 month high of $89.85.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Thursday, November 1st. Eaton’s dividend payout ratio is currently 56.77%.

In related news, insider Richard H. Fearon sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $83.29, for a total transaction of $2,082,250.00. Following the transaction, the insider now directly owns 221,459 shares of the company’s stock, valued at approximately $18,445,320.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deborah L. Mccoy sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $84.55, for a total value of $253,650.00. Following the transaction, the director now directly owns 32,936 shares in the company, valued at $2,784,738.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,000 shares of company stock worth $4,617,645. Company insiders own 0.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in shares of Eaton by 1.9% during the 2nd quarter. BlackRock Inc. now owns 29,464,156 shares of the industrial products company’s stock worth $2,202,152,000 after acquiring an additional 539,852 shares during the last quarter. Boston Partners increased its holdings in shares of Eaton by 5.3% during the 2nd quarter. Boston Partners now owns 8,207,138 shares of the industrial products company’s stock worth $613,401,000 after acquiring an additional 411,336 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Eaton by 10.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,233,875 shares of the industrial products company’s stock worth $465,919,000 after acquiring an additional 611,053 shares during the last quarter. FMR LLC increased its holdings in shares of Eaton by 13.2% during the 2nd quarter. FMR LLC now owns 4,337,578 shares of the industrial products company’s stock worth $324,191,000 after acquiring an additional 506,129 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Eaton by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,768,898 shares of the industrial products company’s stock worth $281,684,000 after acquiring an additional 18,034 shares during the last quarter. 77.80% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: Bear Market

Get a free copy of the Zacks research report on Eaton (ETN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Eaton (NYSE:ETN)

Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply