Brokerages Anticipate Eaton Co. PLC (ETN) Will Announce Quarterly Sales of $5.40 Billion

Brokerages forecast that Eaton Co. PLC (NYSE:ETN) will announce $5.40 billion in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for Eaton’s earnings. The highest sales estimate is $5.46 billion and the lowest is $5.35 billion. Eaton reported sales of $5.25 billion during the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The firm is expected to announce its next earnings report on Tuesday, May 7th.

According to Zacks, analysts expect that Eaton will report full year sales of $22.40 billion for the current financial year, with estimates ranging from $22.21 billion to $22.56 billion. For the next financial year, analysts forecast that the business will post sales of $22.78 billion, with estimates ranging from $21.57 billion to $23.61 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Eaton.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, January 31st. The industrial products company reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.03. The company had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.42 billion. Eaton had a net margin of 9.93% and a return on equity of 14.06%.

Several research analysts recently commented on ETN shares. Zacks Investment Research downgraded shares of Eaton from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Wolfe Research downgraded shares of Eaton from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 8th. Robert W. Baird set a $88.00 price objective on shares of Eaton and gave the stock a “buy” rating in a report on Friday, January 25th. Morgan Stanley set a $82.00 price objective on shares of Eaton and gave the stock a “hold” rating in a report on Saturday, February 2nd. Finally, Wells Fargo & Co raised their price objective on shares of Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. Eaton currently has a consensus rating of “Buy” and an average target price of $86.80.

ETN opened at $82.24 on Tuesday. The company has a market capitalization of $34.18 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 1.49 and a beta of 1.48. Eaton has a 12 month low of $64.46 and a 12 month high of $89.46. The company has a quick ratio of 0.93, a current ratio of 1.47 and a debt-to-equity ratio of 0.42.

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Saturday, March 9th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.45%. The ex-dividend date was Thursday, March 7th. Eaton’s dividend payout ratio is presently 52.69%.

In other Eaton news, insider Curtis J. Hutchins sold 12,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $80.60, for a total value of $967,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joao V. Faria sold 5,000 shares of the stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $76.73, for a total transaction of $383,650.00. The disclosure for this sale can be found here. Insiders sold a total of 73,214 shares of company stock worth $5,709,455 over the last quarter. Corporate insiders own 0.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of Eaton by 9.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,820,730 shares of the industrial products company’s stock valued at $591,563,000 after buying an additional 586,855 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Eaton by 3.4% during the 3rd quarter. Brown Advisory Inc. now owns 41,219 shares of the industrial products company’s stock valued at $3,575,000 after buying an additional 1,372 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Eaton by 13.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,229 shares of the industrial products company’s stock valued at $8,866,000 after buying an additional 11,731 shares in the last quarter. GAM Holding AG raised its position in shares of Eaton by 34.0% during the 3rd quarter. GAM Holding AG now owns 21,698 shares of the industrial products company’s stock valued at $1,882,000 after buying an additional 5,501 shares in the last quarter. Finally, Cpwm LLC purchased a new stake in shares of Eaton during the 3rd quarter valued at $1,089,000. Institutional investors and hedge funds own 78.14% 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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Earnings History and Estimates for Eaton (NYSE:ETN)

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