Eaton Corporation, PLC to Post Q1 2018 Earnings of $1.05 Per Share, Jefferies Group Forecasts (ETN)
Eaton Corporation, PLC (NYSE:ETN) – Equities researchers at Jefferies Group issued their Q1 2018 earnings estimates for Eaton Corporation, PLC in a report issued on Tuesday. Jefferies Group analyst S. Volkmann forecasts that the industrial products company will earn $1.05 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $80.00 target price on the stock. Jefferies Group also issued estimates for Eaton Corporation, PLC’s Q2 2018 earnings at $1.30 EPS, Q3 2018 earnings at $1.35 EPS and Q4 2018 earnings at $1.45 EPS.
Eaton Corporation, PLC (NYSE:ETN) last issued its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.25. Eaton Corporation, PLC had a return on equity of 12.89% and a net margin of 14.21%. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same period in the prior year, the firm posted $1.16 EPS. Eaton Corporation, PLC’s quarterly revenue was up 6.4% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: “Eaton Corporation, PLC to Post Q1 2018 Earnings of $1.05 Per Share, Jefferies Group Forecasts (ETN)” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/11/02/eaton-corporation-plc-to-post-q1-2018-earnings-of-1-05-per-share-jefferies-group-forecasts-etn.html.
ETN has been the subject of several other reports. Buckingham Research initiated coverage on Eaton Corporation, PLC in a research note on Tuesday, October 17th. They issued a “neutral” rating and a $82.00 price target for the company. Wolfe Research initiated coverage on Eaton Corporation, PLC in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Wednesday, July 5th. BidaskClub cut Eaton Corporation, PLC from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Citigroup Inc. boosted their price target on Eaton Corporation, PLC from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $82.64.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $2.40 annualized dividend and a dividend yield of 3.00%. Eaton Corporation, PLC’s dividend payout ratio (DPR) is presently 37.68%.
In other news, Director Deborah L. Mccoy sold 6,450 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $73.17, for a total transaction of $471,946.50. Following the completion of the transaction, the director now directly owns 46,386 shares in the company, valued at $3,394,063.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Cable Hill Partners LLC increased its holdings in shares of Eaton Corporation, PLC by 174.8% during the third quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock worth $105,000 after buying an additional 867 shares in the last quarter. Harfst & Associates Inc. acquired a new position in shares of Eaton Corporation, PLC during the first quarter worth $109,000. Guardian Life Insurance Co. of America increased its holdings in shares of Eaton Corporation, PLC by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock worth $129,000 after buying an additional 12 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Eaton Corporation, PLC during the second quarter worth $133,000. Finally, Acrospire Investment Management LLC increased its holdings in shares of Eaton Corporation, PLC by 325.9% during the second quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock worth $163,000 after buying an additional 1,600 shares in the last quarter. Institutional investors own 76.03% of the company’s stock.
Eaton Corporation, PLC Company Profile
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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