Brokerages Expect Eaton Co. PLC (NYSE:ETN) Will Announce Earnings of $1.42 Per Share

Equities analysts forecast that Eaton Co. PLC (NYSE:ETN) will announce earnings per share of $1.42 for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Eaton’s earnings. The highest EPS estimate is $1.46 and the lowest is $1.39. Eaton posted earnings per share of $1.46 in the same quarter last year, which suggests a negative year-over-year growth rate of 2.7%. The company is expected to announce its next earnings results on Thursday, January 30th.

On average, analysts expect that Eaton will report full-year earnings of $5.73 per share for the current financial year, with EPS estimates ranging from $5.70 to $5.77. For the next year, analysts expect that the business will report earnings of $5.93 per share, with EPS estimates ranging from $5.60 to $6.35. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Eaton.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.01. Eaton had a net margin of 11.06% and a return on equity of 15.15%. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the firm posted $1.43 EPS. The company’s revenue was down 1.8% on a year-over-year basis.

A number of equities analysts have weighed in on ETN shares. Zacks Investment Research raised shares of Eaton from a “sell” rating to a “hold” rating and set a $94.00 price target on the stock in a research note on Thursday, October 31st. Deutsche Bank cut shares of Eaton from a “buy” rating to a “hold” rating in a research note on Wednesday. Vertical Group downgraded Eaton from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Vertical Research lowered Eaton from a “buy” rating to a “hold” rating and set a $85.00 target price on the stock. in a research report on Wednesday, October 9th. Finally, Robert W. Baird increased their target price on Eaton from $80.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $89.33.

In other news, insider Richard H. Fearon sold 34,000 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $90.05, for a total value of $3,061,700.00. Following the completion of the sale, the insider now owns 200,384 shares of the company’s stock, valued at $18,044,579.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joao V. Faria sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $86.89, for a total value of $86,890.00. Following the completion of the sale, the insider now directly owns 52,841 shares of the company’s stock, valued at approximately $4,591,354.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,988 shares of company stock worth $7,121,888. 0.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of ETN. Kings Point Capital Management purchased a new stake in shares of Eaton during the second quarter valued at approximately $28,000. Northern Oak Wealth Management Inc. acquired a new position in Eaton in the 3rd quarter worth $33,000. Ellevest Inc. purchased a new position in Eaton in the 2nd quarter valued at about $35,000. Golden State Wealth Management LLC boosted its position in Eaton by 730.2% in the 3rd quarter. Golden State Wealth Management LLC now owns 440 shares of the industrial products company’s stock valued at $37,000 after buying an additional 387 shares during the last quarter. Finally, Old North State Trust LLC grew its stake in shares of Eaton by 49.1% during the third quarter. Old North State Trust LLC now owns 492 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 162 shares in the last quarter. Institutional investors and hedge funds own 78.39% of the company’s stock.

Eaton stock traded up $1.22 during trading on Friday, reaching $93.08. The company had a trading volume of 1,562,251 shares, compared to its average volume of 2,342,477. Eaton has a 12-month low of $64.46 and a 12-month high of $93.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.10 and a current ratio of 1.72. The stock’s 50 day moving average price is $89.38 and its two-hundred day moving average price is $82.58. The firm has a market capitalization of $38.48 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.85 and a beta of 1.44.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.84 dividend on an annualized basis and a yield of 3.05%. 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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