Zacks: Analysts Expect Eaton Co. plc (NYSE:ETN) Will Post Quarterly Sales of $5.19 Billion

Equities research analysts expect Eaton Co. plc (NYSE:ETN) to post $5.19 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Eaton’s earnings, with estimates ranging from $5.16 billion to $5.27 billion. Eaton posted sales of $4.53 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.6%. The firm is expected to announce its next quarterly earnings report on Tuesday, November 2nd.

According to Zacks, analysts expect that Eaton will report full-year sales of $20.23 billion for the current financial year, with estimates ranging from $20.09 billion to $20.39 billion. For the next financial year, analysts forecast that the firm will post sales of $20.63 billion, with estimates ranging from $20.26 billion to $21.12 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Eaton.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, August 3rd. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.57 by $0.15. Eaton had a net margin of 9.86% and a return on equity of 15.03%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the previous year, the firm posted $0.70 EPS. The firm’s revenue was up 35.2% compared to the same quarter last year.

Several equities analysts have issued reports on the stock. Royal Bank of Canada upped their target price on shares of Eaton from $146.00 to $154.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 4th. Credit Suisse Group raised their target price on Eaton from $163.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on Eaton from $166.00 to $169.00 and gave the company a “buy” rating in a research report on Wednesday, July 14th. HSBC lowered Eaton from a “buy” rating to a “hold” rating and set a $153.00 price target for the company. in a research note on Tuesday. Finally, William Blair reissued a “market perform” rating on shares of Eaton in a research report on Tuesday, August 3rd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $161.06.

In other news, insider Joao V. Faria sold 2,201 shares of the firm’s stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $163.01, for a total transaction of $358,785.01. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Uday Yadav sold 32,189 shares of the business’s stock in a transaction dated Thursday, August 12th. The shares were sold at an average price of $166.43, for a total value of $5,357,215.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,919 shares of company stock worth $6,980,872. 0.53% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of ETN. Reilly Financial Advisors LLC boosted its position in Eaton by 6.0% in the second quarter. Reilly Financial Advisors LLC now owns 1,106 shares of the industrial products company’s stock valued at $164,000 after buying an additional 63 shares during the last quarter. Savant Capital LLC boosted its position in shares of Eaton by 1.4% in the second quarter. Savant Capital LLC now owns 4,855 shares of the industrial products company’s stock worth $719,000 after buying an additional 66 shares during the period. Cobblestone Capital Advisors LLC NY raised its position in shares of Eaton by 1.3% during the 1st quarter. Cobblestone Capital Advisors LLC NY now owns 5,398 shares of the industrial products company’s stock worth $746,000 after purchasing an additional 70 shares during the period. Great Diamond Partners LLC raised its holdings in Eaton by 2.0% during the first quarter. Great Diamond Partners LLC now owns 3,586 shares of the industrial products company’s stock valued at $495,000 after buying an additional 71 shares in the last quarter. Finally, Trustcore Financial Services LLC raised its position in Eaton by 4.1% in the second quarter. Trustcore Financial Services LLC now owns 1,790 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 71 shares during the period. Institutional investors own 77.63% of the company’s stock.

ETN stock traded down $1.97 during mid-day trading on Thursday, hitting $156.30. The company had a trading volume of 2,782,416 shares, compared to its average volume of 1,937,793. The stock’s fifty day moving average price is $161.45 and its two-hundred day moving average price is $149.20. The firm has a market cap of $62.30 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. Eaton has a 12 month low of $96.24 and a 12 month high of $171.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.80 and a current ratio of 1.10.

The company also recently announced a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Friday, August 13th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Thursday, August 12th. Eaton’s dividend payout ratio (DPR) is presently 71.70%.

Eaton Company Profile

Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segment engages in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.

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Earnings History and Estimates for Eaton (NYSE:ETN)

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