Eaton Corp plc Receives Average Rating of “Hold” from Brokerages (NYSE:ETN)
Eaton Corp plc (NYSE:ETN) has been given an average recommendation of “Hold” by the eighteen analysts that are presently covering the stock, American Banking and Market News reports. Eight equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $81.07.
Eaton Corp plc (NYSE:ETN) opened at 67.71 on Wednesday. Eaton Corp plc has a 52 week low of $62.89 and a 52 week high of $79.98. The stock’s 50-day moving average is $75. and its 200-day moving average is $73.97. The company has a market cap of $32.223 billion and a P/E ratio of 19.98.
Eaton Corp plc (NYSE:ETN) last announced its 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 Corp plc’s revenue was up 2.9% compared to the same quarter last year. Analysts expect that Eaton Corp plc will post $4.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 22nd. Stockholders 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 2.89%. The ex-dividend date is Thursday, July 31st.
Several analysts have recently commented on the stock. Analysts at Argus reiterated a “buy” rating on shares of Eaton Corp plc in a research note on Monday, August 4th. They now have a $81.00 price target on the stock, down previously from $84.00. Separately, analysts at Bernstein cut their price target on shares of Eaton Corp plc from $95.00 to $87.00 in a research note on Thursday, July 31st. Finally, analysts at Morgan Stanley cut their price target on shares of Eaton Corp plc from $90.00 to $88.00 in a research note on Thursday, July 31st.
Eaton Corporation (NYSE:ETN) is a diversified power management company.
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