Eaton Co., PLC PT Lowered to $88.00 (ETN)
Equities research analysts at Morgan Stanley decreased their target price on shares of Eaton Co., PLC (NYSE:ETN) from $90.00 to $88.00 in a research note issued to investors on Thursday. Morgan Stanley’s price objective would suggest a potential upside of 30.99% from the stock’s previous close.
A number of other firms have also recently commented on ETN. 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. Separately, 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. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Eaton Co., PLC in a research note on Wednesday. They now have a $79.00 price target on the stock, down previously from $80.00. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $80.35.
Shares of Eaton Co., PLC (NYSE:ETN) traded down 1.09% during mid-day trading on Thursday, hitting $67.18. The stock had a trading volume of 4,525,619 shares. Eaton Co., PLC has a one year low of $62.89 and a one 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 released its earnings data 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. Analysts expect that Eaton Co., PLC will post $4.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 22nd. Investors of record on Monday, August 4th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Thursday, July 31st.
Eaton Corporation (NYSE:ETN) is a diversified power management company.
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.