Eaton (NYSE:ETN) Issues FY21 Earnings Guidance

Eaton (NYSE:ETN) updated its FY21 earnings guidance on Tuesday. The company provided earnings per share guidance of $5.90-$6.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.61. Eaton also updated its FY 2021 guidance to 5.900-6.300 EPS.

ETN has been the subject of several analyst reports. Zacks Investment Research cut shares of Eaton from a buy rating to a hold rating and set a $150.00 target price for the company. in a research note on Tuesday, April 6th. Citigroup boosted their price objective on shares of Eaton from $142.00 to $158.00 and gave the stock a buy rating in a research note on Wednesday, March 31st. Robert W. Baird raised their target price on shares of Eaton from $140.00 to $151.00 and gave the company a neutral rating in a research note on Tuesday. Credit Suisse Group boosted their price target on Eaton from $130.00 to $140.00 and gave the stock an outperform rating in a research report on Wednesday, February 3rd. Finally, Berenberg Bank upgraded Eaton from a hold rating to a buy rating and set a $160.00 target price for the company in a research note on Monday, March 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $137.56.

Shares of Eaton stock traded up $0.31 during trading on Tuesday, reaching $144.67. The company’s stock had a trading volume of 3,717,544 shares, compared to its average volume of 2,270,669. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average price is $139.84 and its 200-day moving average price is $125.31. Eaton has a 52 week low of $70.54 and a 52 week high of $145.95. The firm has a market cap of $57.63 billion, a PE ratio of 42.55, a P/E/G ratio of 2.34 and a beta of 1.12.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, May 4th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.19. Eaton had a net margin of 7.53% and a return on equity of 11.94%. The firm had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities analysts predict that Eaton will post 4.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Friday, May 14th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Thursday, May 13th. Eaton’s dividend payout ratio is currently 53.62%.

In other news, insider Uday Yadav sold 2,213 shares of the business’s stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $135.12, for a total value of $299,020.56. Also, insider Brian S. Brickhouse sold 22,758 shares of the company’s stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $135.80, for a total transaction of $3,090,536.40. Following the sale, the insider now directly owns 15,587 shares of the company’s stock, valued at approximately $2,116,714.60. The disclosure for this sale can be found here. Insiders sold a total of 36,740 shares of company stock valued at $4,945,066 over the last ninety days. Insiders own 0.54% of the company’s stock.

About Eaton

Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.

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Earnings History and Estimates for Eaton (NYSE:ETN)

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