Eaton Corporation, PLC (ETN) Expected to Announce Quarterly Sales of $5.09 Billion

Equities analysts predict that Eaton Corporation, PLC (NYSE:ETN) will report $5.09 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Eaton’s earnings, with estimates ranging from $5.04 billion to $5.16 billion. Eaton reported sales of $4.87 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.5%. The company is expected to issue its next earnings report before the market opens on Thursday, February 1st.

According to Zacks, analysts expect that Eaton will report full-year sales of $5.09 billion for the current year, with estimates ranging from $20.23 billion to $20.35 billion. For the next financial year, analysts forecast that the company will report sales of $21.07 billion per share, with estimates ranging from $20.78 billion to $21.29 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Eaton.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.25. Eaton 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 the consensus estimate of $5.12 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. Eaton’s revenue was up 6.4% compared to the same quarter last year.

A number of research analysts have issued reports on ETN shares. Stifel Nicolaus restated a “hold” rating and issued a $80.00 price objective on shares of Eaton in a research note on Monday, December 11th. Jefferies Group upped their price objective on Eaton from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Wednesday, November 1st. Morgan Stanley restated an “overweight” rating and issued a $88.00 price objective (up previously from $87.00) on shares of Eaton in a research note on Monday, October 2nd. Bank of America downgraded Eaton from a “buy” rating to an “underperform” rating in a research note on Tuesday, October 17th. Finally, Citigroup upped their price objective on Eaton from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Eaton has an average rating of “Hold” and a consensus price target of $83.43.

Shares of Eaton (NYSE:ETN) traded up $0.39 during trading on Friday, reaching $83.95. The company had a trading volume of 3,215,005 shares, compared to its average volume of 2,380,000. Eaton has a 1-year low of $66.98 and a 1-year high of $84.50. The company has a market capitalization of $36,820.00, a P/E ratio of 19.25, a P/E/G ratio of 1.96 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.43 and a quick ratio of 1.02.

In other news, insider Nandakumar Cheruvatath sold 10,000 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $77.50, for a total transaction of $775,000.00. Following the completion of the transaction, the insider now owns 16,571 shares in the company, valued at approximately $1,284,252.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles E. Golden sold 4,311 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $76.03, for a total value of $327,765.33. Following the transaction, the director now owns 20,275 shares of the company’s stock, valued at approximately $1,541,508.25. The disclosure for this sale can be found here. Insiders have sold a total of 58,938 shares of company stock valued at $4,597,529 in the last quarter. 0.80% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in Eaton by 0.4% during the 3rd quarter. Rhumbline Advisers now owns 779,539 shares of the industrial products company’s stock worth $59,861,000 after purchasing an additional 3,338 shares in the last quarter. PGGM Investments lifted its holdings in Eaton by 142.1% during the 3rd quarter. PGGM Investments now owns 703,839 shares of the industrial products company’s stock worth $54,048,000 after purchasing an additional 413,096 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in Eaton by 3.0% during the 3rd quarter. Nationwide Fund Advisors now owns 466,338 shares of the industrial products company’s stock worth $35,810,000 after purchasing an additional 13,419 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Eaton by 91.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 375,869 shares of the industrial products company’s stock worth $28,863,000 after purchasing an additional 179,900 shares in the last quarter. Finally, Aperio Group LLC lifted its holdings in Eaton by 3.9% during the 3rd quarter. Aperio Group LLC now owns 331,053 shares of the industrial products company’s stock worth $25,422,000 after purchasing an additional 12,326 shares in the last quarter. Institutional investors own 76.54% of the company’s stock.

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Eaton 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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Earnings History and Estimates for Eaton (NYSE:ETN)

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