Eaton Corporation, PLC (NYSE:ETN) Expected to Post Quarterly Sales of $5.14 Billion
Wall Street brokerages expect Eaton Corporation, PLC (NYSE:ETN) to report $5.14 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Eaton Corporation, PLC’s earnings. The lowest sales estimate is $5.07 billion and the highest is $5.21 billion. Eaton Corporation, PLC reported sales of $5.08 billion in the same quarter last year, which would suggest a positive year over year growth rate of 1.2%. The business is scheduled to report its next earnings results before the market opens on Tuesday, August 1st.
According to Zacks, analysts expect that Eaton Corporation, PLC will report full-year sales of $5.14 billion for the current year, with estimates ranging from $19.91 billion to $20.23 billion. For the next year, analysts forecast that the firm will post sales of $21.78 billion per share, with estimates ranging from $20.57 billion to $31.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Eaton Corporation, PLC.
Eaton Corporation, PLC (NYSE:ETN) last posted its earnings results on Tuesday, May 2nd. The industrial products company reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.09. Eaton Corporation, PLC had a return on equity of 12.82% and a net margin of 9.86%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the company earned $0.88 earnings per share. The business’s revenue was up .7% compared to the same quarter last year.
ETN has been the subject of a number of recent research reports. Royal Bank Of Canada reissued a “hold” rating and issued a $78.00 price objective on shares of Eaton Corporation, PLC in a report on Wednesday, July 12th. Wolfe Research began coverage on shares of Eaton Corporation, PLC in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. Stifel Nicolaus restated a “hold” rating and set a $80.00 price objective on shares of Eaton Corporation, PLC in a report on Friday, July 7th. Zacks Investment Research upgraded shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Wednesday, July 5th. Finally, JMP Securities assumed coverage on shares of Eaton Corporation, PLC in a research note on Monday, June 19th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $78.54.
Shares of Eaton Corporation, PLC (ETN) traded down 0.10% during midday trading on Wednesday, hitting $80.15. The stock had a trading volume of 1,121,640 shares. Eaton Corporation, PLC has a 52 week low of $59.07 and a 52 week high of $81.63. The stock has a market cap of $35.85 billion, a PE ratio of 18.67 and a beta of 1.35. The stock has a 50-day moving average of $77.63 and a 200 day moving average of $74.14.
In other news, insider Uday Yadav sold 3,034 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $76.08, for a total transaction of $230,826.72. Following the completion of the transaction, the insider now directly owns 22,601 shares in the company, valued at approximately $1,719,484.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard H. Fearon sold 25,000 shares of the stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $76.24, for a total value of $1,906,000.00. Following the transaction, the insider now owns 236,497 shares of the company’s stock, valued at $18,030,531.28. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ETN. Raymond James Trust N.A. increased its position in Eaton Corporation, PLC by 12.5% in the first quarter. Raymond James Trust N.A. now owns 22,066 shares of the industrial products company’s stock worth $1,637,000 after buying an additional 2,450 shares in the last quarter. CHURCHILL MANAGEMENT Corp increased its stake in shares of Eaton Corporation, PLC by 4.7% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 272,616 shares of the industrial products company’s stock worth $20,214,000 after buying an additional 12,316 shares in the last quarter. Denali Advisors LLC increased its stake in shares of Eaton Corporation, PLC by 42.9% in the first quarter. Denali Advisors LLC now owns 80,309 shares of the industrial products company’s stock worth $5,955,000 after buying an additional 24,112 shares in the last quarter. Fulton Bank N.A. bought a new stake in shares of Eaton Corporation, PLC during the first quarter worth about $237,000. Finally, Manning & Napier Advisors LLC increased its stake in shares of Eaton Corporation, PLC by 8.6% in the first quarter. Manning & Napier Advisors LLC now owns 66,367 shares of the industrial products company’s stock worth $4,920,000 after buying an additional 5,231 shares in the last quarter. Hedge funds and other institutional investors own 76.30% of the company’s stock.
About Eaton Corporation, PLC
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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