$1.24 EPS Expected for Eaton Co. PLC (ETN) This Quarter

Equities analysts predict that Eaton Co. PLC (NYSE:ETN) will announce $1.24 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Eaton’s earnings, with estimates ranging from $1.21 to $1.28. Eaton posted earnings of $1.10 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 12.7%. The company is scheduled to announce its next earnings results on Tuesday, May 7th.

According to Zacks, analysts expect that Eaton will report full-year earnings of $5.86 per share for the current fiscal year, with EPS estimates ranging from $5.79 to $6.00. For the next year, analysts expect that the business will post earnings of $6.20 per share, with EPS estimates ranging from $5.88 to $6.55. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Eaton.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, January 31st. The industrial products company reported $1.46 earnings per share 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 analyst estimates of $5.42 billion. Eaton had a net margin of 9.93% and a return on equity of 14.06%.

ETN has been the subject of several research reports. Credit Suisse Group reaffirmed an “outperform” rating and issued a $80.00 price target (down from $85.00) on shares of Eaton in a report on Thursday, January 3rd. Zacks Investment Research downgraded shares of Eaton from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Barclays reduced their target price on shares of Eaton from $75.00 to $73.00 and set an “underweight” rating for the company in a research note on Monday, January 7th. Wolfe Research cut shares of Eaton from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. Finally, Robert W. Baird set a $88.00 target price on shares of Eaton and gave the company a “buy” rating in a research note on Friday, January 25th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $86.80.

In other Eaton news, insider Curtis J. Hutchins sold 37,625 shares of the company’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $76.02, for a total transaction of $2,860,252.50. Following the transaction, the insider now directly owns 15,872 shares in the company, valued at approximately $1,206,589.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joao V. Faria sold 5,000 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were 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. In the last quarter, insiders have sold 73,214 shares of company stock worth $5,709,455. 0.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ETN. Oregon Public Employees Retirement Fund grew its stake in shares of Eaton by 8,639.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,674,949 shares of the industrial products company’s stock valued at $141,000 after buying an additional 9,564,240 shares in the last quarter. Norges Bank bought a new position in Eaton in the fourth quarter valued at about $524,126,000. BlackRock Inc. grew its position in Eaton by 6.7% in the fourth quarter. BlackRock Inc. now owns 31,171,908 shares of the industrial products company’s stock valued at $2,140,263,000 after acquiring an additional 1,955,724 shares during the last quarter. Bank of New York Mellon Corp grew its position in Eaton by 9.4% in the third 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 acquiring an additional 586,855 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Eaton in the third quarter valued at about $49,250,000. Institutional investors own 78.14% of the company’s stock.

Shares of NYSE ETN traded up $0.65 during midday trading on Friday, hitting $83.29. The company’s stock had a trading volume of 25,706 shares, compared to its average volume of 2,745,688. Eaton has a 1-year low of $64.46 and a 1-year high of $89.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.47. The firm has a market capitalization of $35.06 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.52 and a beta of 1.48.

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Saturday, March 9th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.84 annualized dividend and a yield of 3.41%. Eaton’s dividend payout ratio (DPR) is 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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