Analysts forecast that Eaton Co. PLC (NYSE:ETN) will post sales of $5.65 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Eaton’s earnings. The lowest sales estimate is $5.62 billion and the highest is $5.72 billion. Eaton posted sales of $5.49 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 2.9%. The business is scheduled to report its next earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that Eaton will report full year sales of $22.31 billion for the current year, with estimates ranging from $22.17 billion to $22.43 billion. For the next year, analysts forecast that the firm will report sales of $22.73 billion, with estimates ranging from $21.21 billion to $23.44 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Eaton.
Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.38 billion. Eaton had a net margin of 10.06% and a return on equity of 14.56%. Eaton’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $1.10 EPS.
A number of brokerages have recently commented on ETN. Barclays reiterated a “sell” rating and issued a $76.00 price target on shares of Eaton in a research note on Thursday, June 6th. Bank of America lowered shares of Eaton from a “buy” rating to a “neutral” rating and set a $88.00 price target for the company. in a research note on Thursday, April 4th. Wells Fargo & Co lifted their price target on shares of Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. They noted that the move was a valuation call. Finally, Vertical Research raised shares of Eaton from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $87.00.
Shares of ETN stock traded down $0.92 during trading hours on Monday, reaching $78.37. The company had a trading volume of 1,380,736 shares, compared to its average volume of 1,680,797. Eaton has a one year low of $64.46 and a one year high of $89.46. The firm has a market capitalization of $33.55 billion, a PE ratio of 14.54, a P/E/G ratio of 1.54 and a beta of 1.46. The company has a quick ratio of 0.92, a current ratio of 1.47 and a debt-to-equity ratio of 0.42.
The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.62%. The ex-dividend date was Thursday, May 2nd. Eaton’s dividend payout ratio is currently 52.69%.
In other news, Director Dorothy C. Thompson purchased 1,655 shares of the stock in a transaction 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Olivier Leonetti purchased 630 shares of the stock in a transaction on Friday, May 17th. The shares were purchased at an average cost of $79.08 per share, for a total transaction of $49,820.40. Following the acquisition, the director now directly owns 127 shares of the company’s stock, valued at $10,043.16. The disclosure for this purchase can be found here. 0.70% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in ETN. Financial Gravity Wealth Inc. bought a new stake in Eaton in the first quarter worth $25,000. Destination Wealth Management boosted its stake in shares of Eaton by 103.2% during the first quarter. Destination Wealth Management now owns 319 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 162 shares during the period. Athena Capital Advisors LLC purchased a new stake in shares of Eaton during the fourth quarter valued at $27,000. Bremer Trust National Association purchased a new stake in shares of Eaton during the fourth quarter valued at $29,000. Finally, Alera Investment Advisors LLC boosted its stake in shares of Eaton by 82.9% during the first quarter. Alera Investment Advisors LLC now owns 384 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 174 shares during the period. Hedge funds and other institutional investors own 76.71% 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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