Eaton Co. PLC (NYSE:ETN) Expected to Post Earnings of $1.42 Per Share

Wall Street analysts forecast that Eaton Co. PLC (NYSE:ETN) will report $1.42 earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have made estimates for Eaton’s earnings, with the highest EPS estimate coming in at $1.46 and the lowest estimate coming in at $1.39. Eaton reported earnings per share of $1.46 in the same quarter last year, which would suggest a negative year over year growth rate of 2.7%. The firm is expected to report its next quarterly earnings results on Thursday, January 30th.

According to Zacks, analysts expect that Eaton will report full-year earnings of $5.73 per share for the current year, with EPS estimates ranging from $5.70 to $5.77. For the next financial year, analysts expect that the business will post earnings of $5.93 per share, with EPS estimates ranging from $5.60 to $6.35. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Eaton.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.01. Eaton had a return on equity of 15.15% and a net margin of 11.06%. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the company posted $1.43 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year.

Several equities analysts recently issued reports on ETN shares. Vertical Research lowered Eaton from a “buy” rating to a “hold” rating and set a $85.00 price target on the stock. in a research note on Wednesday, October 9th. KeyCorp boosted their price target on Eaton from $93.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Robert W. Baird boosted their price target on Eaton from $80.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer upgraded Eaton from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research note on Wednesday, October 16th. Finally, Morgan Stanley set a $87.00 price target on Eaton and gave the company a “hold” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Eaton has a consensus rating of “Hold” and an average price target of $91.29.

ETN traded up $0.90 on Thursday, hitting $91.79. 1,530,200 shares of the stock traded hands, compared to its average volume of 2,138,801. Eaton has a 52 week low of $64.46 and a 52 week high of $92.96. The company has a current ratio of 1.72, a quick ratio of 1.10 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $37.57 billion, a PE ratio of 17.03, a P/E/G ratio of 1.81 and a beta of 1.42. The business has a fifty day moving average price of $84.70 and a two-hundred day moving average price of $81.50.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Thursday, October 31st. Eaton’s payout ratio is 52.69%.

In other news, insider Joao V. Faria sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $86.89, for a total value of $86,890.00. Following the transaction, the insider now directly owns 52,841 shares of the company’s stock, valued at approximately $4,591,354.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard H. Fearon sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $90.05, for a total value of $3,061,700.00. Following the completion of the transaction, the insider now directly owns 200,384 shares in the company, valued at $18,044,579.20. The disclosure for this sale can be found here. Insiders have sold 81,988 shares of company stock worth $7,359,428 over the last ninety days. Company insiders own 0.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Eaton by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 33,329,894 shares of the industrial products company’s stock worth $2,775,713,000 after acquiring an additional 458,692 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Eaton by 1.1% in the 2nd quarter. BlackRock Inc. now owns 30,504,507 shares of the industrial products company’s stock worth $2,540,415,000 after acquiring an additional 341,830 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Eaton by 0.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,004,831 shares of the industrial products company’s stock worth $1,330,803,000 after acquiring an additional 135,822 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Eaton by 0.4% in the 2nd quarter. Northern Trust Corp now owns 6,090,154 shares of the industrial products company’s stock worth $507,188,000 after acquiring an additional 25,664 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Eaton by 28.1% in the 2nd quarter. Invesco Ltd. now owns 5,815,463 shares of the industrial products company’s stock worth $484,312,000 after acquiring an additional 1,276,325 shares in the last quarter. 78.73% 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.

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Earnings History and Estimates for Eaton (NYSE:ETN)

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