Eaton Co., PLC (ETN) Posts Quarterly Earnings, Beats Expectations By $0.01 EPS
Eaton Co., PLC (NYSE:ETN) announced its earnings results on Tuesday. The company reported $1.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.00 by $0.01, ARN reports. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.49 billion.
Eaton Co., PLC (NYSE:ETN) opened at 74.50 on Tuesday. Eaton Co., PLC has a 52-week low of $59.18 and a 52-week high of $78.19. The stock has a 50-day moving average of $73.6 and a 200-day moving average of $72.88. The company has a market cap of $35.410 billion and a P/E ratio of 18.96.
The company also recently announced a quarterly dividend, which is scheduled for Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, May 1st.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Eaton Co., PLC in a research note on Monday. They now have a $78.00 price target on the stock. On a related note, analysts at Morgan Stanley cut their price target on shares of Eaton Co., PLC from $90.00 to $89.00 in a research note on Monday, April 7th. Finally, analysts at Oppenheimer raised their price target on shares of Eaton Co., PLC from $82.00 to $85.00 in a research note on Tuesday, March 4th. They now have an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $79.68.
Eaton Corporation (NYSE:ETN) is a diversified power management company.
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