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

Brokerages expect Eaton Co. PLC (NYSE:ETN) to report $1.52 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Eaton’s earnings, with the highest EPS estimate coming in at $1.54 and the lowest estimate coming in at $1.48. Eaton posted earnings per share of $1.39 during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.4%. The firm is expected to announce its next quarterly earnings report before the market opens on Tuesday, July 30th.

According to Zacks, analysts expect that Eaton will report full year earnings of $5.88 per share for the current fiscal year, with EPS estimates ranging from $5.80 to $5.95. For the next fiscal year, analysts forecast that the company will report earnings of $6.25 per share, with EPS estimates ranging from $6.00 to $6.65. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Eaton.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.63 billion. Eaton had a return on equity of 14.56% and a net margin of 10.06%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 earnings per share.

ETN has been the topic of several research reports. Barclays reaffirmed a “hold” rating and set a $23.00 price objective on shares of Cypress Semiconductor in a report on Thursday, June 6th. Bank of America set a $152.00 price target on Caterpillar and gave the stock a “buy” rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Eaton presently has a consensus rating of “Hold” and an average price target of $87.08.

In related news, Director Olivier Leonetti purchased 630 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average price of $79.08 per share, with a total value of $49,820.40. Following the completion of the acquisition, the director now directly owns 127 shares in the company, valued at approximately $10,043.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joao V. Faria sold 4,301 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $80.00, for a total value of $344,080.00. Following the transaction, the insider now directly owns 58,688 shares in the company, valued at approximately $4,695,040. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Gravity Wealth Inc. purchased a new stake in Eaton in the 1st quarter valued at approximately $25,000. Arcadia Investment Management Corp MI purchased a new stake in Eaton in the 2nd quarter valued at approximately $25,000. Destination Wealth Management boosted its holdings in Eaton by 103.2% in the 1st 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 in the last quarter. Hexavest Inc. purchased a new stake in Eaton in the 2nd quarter valued at approximately $28,000. Finally, Alera Investment Advisors LLC boosted its holdings in Eaton by 82.9% in the 1st 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 in the last quarter. 76.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ETN stock traded up $2.05 during mid-day trading on Tuesday, hitting $83.12. 3,039,231 shares of the stock were exchanged, compared to its average volume of 2,370,484. The firm’s fifty day moving average price is $81.04. The company has a market capitalization of $34.51 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.59 and a beta of 1.47. Eaton has a 12-month low of $64.46 and a 12-month high of $89.46. 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 business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, August 1st. Eaton’s dividend payout ratio is currently 52.69%.

About Eaton

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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Earnings History and Estimates for Eaton (NYSE:ETN)

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