Analysts predict that Eaton Co. PLC (NYSE:ETN) will announce $1.24 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have made estimates for Eaton’s earnings, with estimates ranging from $1.21 to $1.28. Eaton posted earnings per share of $1.10 in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.7%. The firm is expected to announce its next earnings report on Tuesday, May 7th.
On average, analysts expect that Eaton will report full year earnings of $5.87 per share for the current fiscal year, with EPS estimates ranging from $5.79 to $6.00. For the next financial year, analysts forecast that the business will report earnings of $6.21 per share, with EPS estimates ranging from $5.88 to $6.55. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Eaton.
Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, January 31st. The industrial products company reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.03. The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.42 billion. Eaton had a return on equity of 14.06% and a net margin of 9.93%.
A number of equities analysts recently commented on ETN shares. Robert W. Baird set a $89.00 price target on Eaton and gave the stock a “buy” rating in a research note on Saturday, February 2nd. Wolfe Research cut shares of Eaton from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 8th. Barclays cut their target price on shares of Eaton from $75.00 to $73.00 and set an “underweight” rating on the stock in a report on Monday, January 7th. Morgan Stanley set a $82.00 target price on shares of Eaton and gave the stock a “hold” rating in a report on Saturday, February 2nd. Finally, Wells Fargo & Co raised their target price on shares of Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Eaton currently has an average rating of “Buy” and a consensus price target of $86.38.
NYSE:ETN traded down $0.41 during mid-day trading on Friday, reaching $80.58. The stock had a trading volume of 4,844,124 shares, compared to its average volume of 2,765,264. The company has a market capitalization of $34.31 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. Eaton has a 1-year low of $64.46 and a 1-year high of $89.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.47.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Saturday, March 9th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.52%. Eaton’s dividend payout ratio (DPR) is presently 52.69%.
In related news, insider Richard H. Fearon sold 1,335 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $80.19, for a total transaction of $107,053.65. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Curtis J. Hutchins sold 37,625 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $76.02, for a total value of $2,860,252.50. Following the sale, the insider now directly owns 15,872 shares in the company, valued at approximately $1,206,589.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,214 shares of company stock worth $4,742,255. Corporate insiders own 0.50% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Fulcrum Equity Management bought a new stake in Eaton during the fourth quarter worth approximately $250,000. Norges Bank acquired a new position in Eaton in the fourth quarter worth approximately $524,126,000. Actinver Wealth Management Inc. acquired a new position in Eaton in the fourth quarter worth approximately $251,000. Teacher Retirement System of Texas grew its position in Eaton by 7.7% in the fourth quarter. Teacher Retirement System of Texas now owns 423,136 shares of the industrial products company’s stock worth $29,053,000 after buying an additional 30,329 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Eaton in the fourth quarter worth approximately $317,000. 74.88% of the stock is currently owned by hedge funds and other institutional investors.
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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