$1.83 Earnings Per Share Expected for Eaton Co. plc (NYSE:ETN) This Quarter

Wall Street brokerages forecast that Eaton Co. plc (NYSE:ETNGet Rating) will announce earnings per share (EPS) of $1.83 for the current quarter, Zacks reports. Six analysts have made estimates for Eaton’s earnings. The lowest EPS estimate is $1.80 and the highest is $1.88. Eaton reported earnings of $1.72 per share during the same quarter last year, which would indicate a positive year over year growth rate of 6.4%. The firm is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Eaton will report full-year earnings of $7.52 per share for the current year, with EPS estimates ranging from $7.45 to $7.60. For the next fiscal year, analysts anticipate that the company will post earnings of $8.36 per share, with EPS estimates ranging from $8.25 to $8.50. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Eaton.

Eaton (NYSE:ETNGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Eaton had a return on equity of 16.92% and a net margin of 11.21%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 EPS.

Several analysts have recently issued reports on ETN shares. Wolfe Research lowered their price objective on shares of Eaton from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Monday, February 7th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Eaton from $176.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. Robert W. Baird raised their price target on shares of Eaton from $150.00 to $155.00 in a research report on Tuesday, May 3rd. William Blair restated a “market perform” rating on shares of Eaton in a research note on Thursday, March 3rd. Finally, Wells Fargo & Company raised their price target on Eaton from $149.00 to $159.00 in a report on Wednesday, May 4th. One 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. Based on data from MarketBeat.com, Eaton has a consensus rating of “Buy” and an average price target of $171.80.

ETN opened at $139.82 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.99 and a debt-to-equity ratio of 0.41. The firm has a market cap of $55.79 billion, a P/E ratio of 25.28, a PEG ratio of 1.69 and a beta of 1.15. The business’s fifty day simple moving average is $145.22 and its 200 day simple moving average is $156.10. Eaton has a 52 week low of $130.43 and a 52 week high of $175.72.

The business also recently announced a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 13th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, May 12th. Eaton’s payout ratio is presently 58.59%.

In other news, insider Joao V. Faria sold 11,852 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $150.00, for a total transaction of $1,777,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.56% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ETN. Financial Management Professionals Inc. increased its position in shares of Eaton by 288.6% in the first quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 127 shares during the period. Bell Investment Advisors Inc bought a new stake in Eaton during the third quarter worth $27,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Eaton in the 1st quarter valued at $30,000. Arlington Partners LLC bought a new position in shares of Eaton in the 4th quarter valued at $31,000. Finally, Steward Financial Group LLC acquired a new position in shares of Eaton during the 1st quarter worth $32,000. 79.10% of the stock is owned by hedge funds and other institutional investors.

About Eaton (Get Rating)

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

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