Eaton Co. PLC (ETN) Expected to Announce Earnings of $1.52 Per Share

Brokerages expect Eaton Co. PLC (NYSE:ETN) to report $1.52 earnings per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Eaton’s earnings. The highest EPS estimate is $1.54 and the lowest is $1.50. Eaton reported earnings of $1.39 per share during the same quarter last year, which would indicate a positive year over year growth rate of 9.4%. The company is expected to report its next quarterly earnings report on Tuesday, July 30th.

On average, analysts expect that Eaton will report full year earnings of $5.89 per share for the current financial year, with EPS estimates ranging from $5.82 to $5.95. For the next year, analysts expect that the business will post earnings of $6.26 per share, with EPS estimates ranging from $6.00 to $6.55. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Eaton.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.01. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.38 billion. Eaton had a return on equity of 14.56% and a net margin of 10.06%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.10 EPS.

Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Eaton from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Vertical Research raised Eaton from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Robert W. Baird set a $89.00 target price on Eaton and gave the company a “buy” rating in a research report on Saturday, February 2nd. Wells Fargo & Co boosted their target price on Eaton from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. They noted that the move was a valuation call. Finally, Morgan Stanley set a $82.00 target price on Eaton and gave the company a “hold” rating in a research report on Saturday, February 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $86.79.

Shares of NYSE ETN traded down $1.26 during trading hours on Thursday, hitting $78.75. 1,607,844 shares of the company traded hands, compared to its average volume of 2,154,291. The company has a market cap of $33.32 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.53 and a beta of 1.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.47. Eaton has a 12 month low of $64.46 and a 12 month high of $89.46.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Thursday, May 2nd. Eaton’s payout ratio is currently 52.69%.

In related news, insider Heath B. Monesmith sold 7,167 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $81.25, for a total transaction of $582,318.75. Following the completion of the transaction, the insider now owns 26,344 shares in the company, valued at approximately $2,140,450. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dorothy C. Thompson acquired 1,655 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average price of $78.54 per share, with a total value of $129,983.70. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 30,589 shares of company stock valued at $2,465,553. 0.70% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of ETN. S&CO Inc. lifted its stake in shares of Eaton by 2.0% during the 1st quarter. S&CO Inc. now owns 6,120 shares of the industrial products company’s stock worth $493,000 after purchasing an additional 120 shares during the last quarter. Cornerstone Advisors Inc. lifted its stake in shares of Eaton by 11.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,227 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 125 shares during the last quarter. Orrstown Financial Services Inc. lifted its stake in shares of Eaton by 1.2% during the 1st quarter. Orrstown Financial Services Inc. now owns 11,100 shares of the industrial products company’s stock worth $894,000 after purchasing an additional 129 shares during the last quarter. PagnatoKarp Partners LLC lifted its stake in shares of Eaton by 2.1% during the 1st quarter. PagnatoKarp Partners LLC now owns 6,417 shares of the industrial products company’s stock worth $517,000 after purchasing an additional 130 shares during the last quarter. Finally, Pegasus Asset Management Inc. lifted its stake in shares of Eaton by 0.4% during the 1st quarter. Pegasus Asset Management Inc. now owns 30,061 shares of the industrial products company’s stock worth $2,422,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.

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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