Eaton (NYSE:ETN) Releases Q3 Earnings Guidance

Eaton (NYSE:ETN) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $1.50-1.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.55. Eaton also updated its FY 2019 guidance to $5.77-5.97 EPS.

Several brokerages have weighed in on ETN. Bank of America lowered shares of Eaton from a buy rating to a neutral rating and set a $88.00 price objective for the company. in a report on Thursday, April 4th. Royal Bank of Canada set a $84.00 price objective on shares of Eaton and gave the stock a hold rating in a report on Wednesday. Morgan Stanley raised their price objective on shares of Eaton from $88.00 to $90.00 and gave the stock an equal weight rating in a report on Wednesday. Barclays reissued a sell rating and set a $76.00 price objective on shares of Eaton in a report on Thursday, June 6th. Finally, Deutsche Bank set a $96.00 price objective on shares of Eaton and gave the stock a buy rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Eaton presently has an average rating of Hold and a consensus target price of $89.00.

Shares of NYSE ETN traded down $0.67 during midday trading on Friday, hitting $79.30. The company’s stock had a trading volume of 2,446,516 shares, compared to its average volume of 2,392,459. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.92 and a current ratio of 1.83. The business has a fifty day simple moving average of $81.15. The firm has a market cap of $35.17 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 1.62 and a beta of 1.47. Eaton has a 1-year low of $64.46 and a 1-year high of $89.46.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.63 billion. Eaton had a net margin of 10.16% and a return on equity of 14.80%. Eaton’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 EPS. On average, equities research analysts forecast that Eaton will post 5.88 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Thursday, August 1st. Eaton’s payout ratio is 52.69%.

In other Eaton news, insider Richard H. Fearon sold 80,592 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $82.75, for a total transaction of $6,668,988.00. Following the completion of the transaction, the insider now directly owns 270,097 shares of the company’s stock, valued at approximately $22,350,526.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joao V. Faria sold 4,301 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $80.00, for a total transaction of $344,080.00. Following the transaction, the insider now directly owns 58,688 shares of the company’s stock, valued at $4,695,040. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

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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