FY2018 Earnings Forecast for Eaton Corporation, PLC Issued By Jefferies Group (ETN)

Eaton Corporation, PLC (NYSE:ETN) – Equities research analysts at Jefferies Group decreased their FY2018 earnings per share (EPS) estimates for Eaton in a note issued to investors on Thursday. Jefferies Group analyst S. Volkmann now forecasts that the industrial products company will post earnings per share of $5.00 for the year, down from their previous forecast of $5.15. Jefferies Group has a “Hold” rating and a $80.00 price target on the stock. Jefferies Group also issued estimates for Eaton’s FY2019 earnings at $5.50 EPS.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.25 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.25. Eaton had a return on equity of 12.89% and a net margin of 14.21%. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.12 billion. During the same period last year, the company posted $1.16 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year.

ETN has been the topic of a number of other reports. Zacks Investment Research downgraded Eaton from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Robert W. Baird raised Eaton from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $82.00 to $92.00 in a research note on Wednesday, January 3rd. Bank of America downgraded Eaton from a “buy” rating to an “underperform” rating in a research note on Tuesday, October 17th. Oppenheimer reissued a “hold” rating on shares of Eaton in a research note on Tuesday, October 31st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $88.00 price objective (up from $87.00) on shares of Eaton in a research note on Monday, October 2nd. Five analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $83.43.

Shares of Eaton (ETN) traded up $0.39 during trading on Monday, hitting $83.95. The stock had a trading volume of 3,215,000 shares, compared to its average volume of 2,513,623. The firm has a market cap of $36,990.00, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 1.98 and a beta of 1.38. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Eaton has a fifty-two week low of $66.98 and a fifty-two week high of $84.50.

In other news, insider Revathi Advaithi sold 23,743 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $78.36, for a total transaction of $1,860,501.48. Following the sale, the insider now directly owns 31,028 shares in the company, valued at $2,431,354.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles E. Golden sold 4,311 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $76.03, for a total value of $327,765.33. Following the sale, the director now owns 20,275 shares in the company, valued at $1,541,508.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,938 shares of company stock worth $4,597,529. Company insiders own 0.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ETN. Pinebridge Investments L.P. increased its position in shares of Eaton by 55.2% during the second quarter. Pinebridge Investments L.P. now owns 5,903 shares of the industrial products company’s stock valued at $459,000 after purchasing an additional 2,099 shares during the period. Harfst & Associates Inc. increased its position in shares of Eaton by 21.8% during the second quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 322 shares during the period. Cibc World Markets Corp increased its position in shares of Eaton by 34.6% during the second quarter. Cibc World Markets Corp now owns 63,203 shares of the industrial products company’s stock valued at $4,919,000 after purchasing an additional 16,252 shares during the period. Sandhill Capital Partners LLC increased its position in shares of Eaton by 1.9% during the second quarter. Sandhill Capital Partners LLC now owns 239,555 shares of the industrial products company’s stock valued at $18,645,000 after purchasing an additional 4,458 shares during the period. Finally, Colonial Trust Advisors increased its position in shares of Eaton by 89.9% during the second quarter. Colonial Trust Advisors now owns 32,466 shares of the industrial products company’s stock valued at $2,527,000 after purchasing an additional 15,371 shares during the period. Institutional investors and hedge funds own 76.53% of the company’s stock.

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About Eaton

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.

Earnings History and Estimates for Eaton (NYSE:ETN)

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