Eaton Co., PLC Given New $87.00 Price Target at Bernstein (ETN)
Investment analysts at Bernstein dropped their price target on shares of Eaton Co., PLC (NYSE:ETN) from $95.00 to $87.00 in a note issued to investors on Thursday. Bernstein’s target price would indicate a potential upside of 29.50% from the company’s current price.
Shares of Eaton Co., PLC (NYSE:ETN) traded down 1.09% on Thursday, hitting $67.18. 4,525,619 shares of the company’s stock traded hands. Eaton Co., PLC has a 1-year low of $62.89 and a 1-year high of $79.98. The stock has a 50-day moving average of $76.60 and a 200-day moving average of $74.2. The company has a market cap of $31.971 billion and a price-to-earnings ratio of 20.34.
Eaton Co., PLC (NYSE:ETN) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.11 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.15 by $0.04. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.78 billion. During the same quarter last year, the company posted $1.09 earnings per share. Eaton Co., PLC’s revenue was up 2.9% compared to the same quarter last year. On average, analysts predict that Eaton Co., PLC will post $4.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, July 31st.
A number of other analysts have also recently weighed in on ETN. Analysts at Morgan Stanley cut their price target on shares of Eaton Co., PLC from $90.00 to $88.00 in a research note on Thursday. Separately, analysts at Robert W. Baird cut their price target on shares of Eaton Co., PLC from $86.00 to $84.00 in a research note on Thursday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Eaton Co., PLC in a research note on Wednesday. They now have a $74.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $80.35.
Eaton Corporation (NYSE:ETN) is a diversified power management company.
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