Eaton Co., PLC Given “Neutral” Rating at Zacks (ETN)
Eaton Co., PLC (NYSE:ETN)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Thursday. They currently have a $82.00 price objective on the stock. Zacks‘s target price would suggest a potential upside of 5.59% from the company’s current price.
Zacks’ analyst wrote, “Eaton Corp. continues to benefit from its diverse product offering posting higher core sales and registering earnings surprises in the last two quarters. Going forward, the Vehicle segment is expected to benefit from the improvement in truck market fundamentals. In addition, the worldwide improvement in commercial airline traffic could spur aerospace aftermarket bookings. Recently, the company settled two litigations, which lowered its legal hassles. However, weakness in the South American markets could have a negative impact on the overall sales outlook of the company. Eaton generates nearly half its revenues from U.S. operations. Currently, the pace of economic development in the U.S. is not uniform across all sectors. Therefore, we prefer to maintain our Neutral recommendation on the stock.”
Several other analysts have also recently commented on the stock. Analysts at Oppenheimer raised their price target on shares of Eaton Co., PLC from $85.00 to $88.00 in a research note on Wednesday, July 2nd. They now have an “outperform” rating on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Eaton Co., PLC in a research note on Tuesday, June 24th. They now have a $88.00 price target on the stock, up previously from $78.00. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $81.63.
Shares of Eaton Co., PLC (NYSE:ETN) traded down 0.31% during mid-day trading on Thursday, hitting $77.66. The stock had a trading volume of 2,644,450 shares. Eaton Co., PLC has a 52 week low of $62.89 and a 52 week high of $79.65. The stock has a 50-day moving average of $75.66 and a 200-day moving average of $74.22. The company has a market cap of $37.021 billion and a P/E ratio of 19.33.
Eaton Co., PLC (NYSE:ETN) last released its earnings data on Tuesday, April 29th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts predict that Eaton Co., PLC will post $4.77 earnings per share for the current fiscal year.
Eaton Corporation (NYSE:ETN) is a diversified power management company.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.