Analysts expect Eaton Co. PLC (NYSE:ETN) to post $5.40 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Eaton’s earnings, with the highest sales estimate coming in at $5.57 billion and the lowest estimate coming in at $5.33 billion. Eaton reported sales of $5.46 billion in the same quarter last year, which would indicate a negative year over year growth rate of 1.1%. The business is expected to announce its next earnings results on Thursday, January 30th.
On average, analysts expect that Eaton will report full year sales of $21.56 billion for the current fiscal year, with estimates ranging from $21.48 billion to $21.72 billion. For the next year, analysts anticipate that the company will report sales of $21.25 billion, with estimates ranging from $19.83 billion to $22.61 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Eaton.
Eaton (NYSE:ETN) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.01. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.51 billion. Eaton had a return on equity of 15.15% and a net margin of 11.06%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $1.43 EPS.
Several analysts recently issued reports on ETN shares. Deutsche Bank set a $96.00 target price on Eaton and gave the company a “buy” rating in a research note on Wednesday, July 31st. Zacks Investment Research upgraded Eaton from a “sell” rating to a “hold” rating and set a $94.00 price target for the company in a report on Thursday, October 31st. Credit Suisse Group raised their price target on Eaton from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Oppenheimer upgraded Eaton from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a report on Wednesday, October 16th. Finally, Vertical Group cut Eaton from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $91.29.
In other Eaton news, Director Deborah L. Mccoy sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $79.18, for a total value of $237,540.00. Following the completion of the sale, the director now directly owns 29,936 shares of the company’s stock, valued at approximately $2,370,332.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael J. Critelli sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $92.00, for a total transaction of $920,000.00. Following the transaction, the director now directly owns 55,566 shares in the company, valued at $5,112,072. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,988 shares of company stock valued at $7,359,428. Company insiders own 0.70% of the company’s stock.
Several large investors have recently modified their holdings of the company. First Allied Advisory Services Inc. grew its holdings in Eaton by 2.8% in the third quarter. First Allied Advisory Services Inc. now owns 19,807 shares of the industrial products company’s stock worth $1,635,000 after purchasing an additional 540 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in Eaton by 3.8% in the third quarter. Cetera Advisor Networks LLC now owns 4,928 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 181 shares during the last quarter. Trillium Asset Management LLC grew its holdings in Eaton by 0.7% in the third quarter. Trillium Asset Management LLC now owns 174,056 shares of the industrial products company’s stock worth $14,473,000 after purchasing an additional 1,149 shares during the last quarter. BancorpSouth Bank grew its holdings in Eaton by 3.8% in the third quarter. BancorpSouth Bank now owns 49,128 shares of the industrial products company’s stock worth $4,085,000 after purchasing an additional 1,808 shares during the last quarter. Finally, Corient Capital Partners LLC grew its holdings in Eaton by 13.8% in the third quarter. Corient Capital Partners LLC now owns 19,551 shares of the industrial products company’s stock worth $1,626,000 after purchasing an additional 2,378 shares during the last quarter. 78.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of ETN opened at $91.79 on Friday. The business’s 50 day moving average is $84.70 and its 200 day moving average is $81.50. The company has a market capitalization of $38.18 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.84 and a beta of 1.42. Eaton has a 12-month low of $64.46 and a 12-month high of $92.96. The company has a current ratio of 1.72, a quick ratio of 1.10 and a debt-to-equity ratio of 0.52.
The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Thursday, October 31st. Eaton’s dividend payout ratio (DPR) is 52.69%.
Eaton Company Profile
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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