Equities research analysts forecast that Eaton Co. PLC (NYSE:ETN) will post $5.60 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Eaton’s earnings, with estimates ranging from $5.54 billion to $5.68 billion. Eaton reported sales of $5.41 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3.5%. The business is scheduled to issue its next earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that Eaton will report full year sales of $22.12 billion for the current year, with estimates ranging from $21.99 billion to $22.39 billion. For the next year, analysts forecast that the company will post sales of $22.77 billion, with estimates ranging from $22.35 billion to $23.36 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Eaton.
Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.02. Eaton had a return on equity of 14.88% and a net margin of 10.16%. The firm had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.63 billion. During the same period in the previous year, the firm earned $1.39 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis.
Several analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Eaton from $88.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Deutsche Bank set a $96.00 price objective on Eaton and gave the stock a “buy” rating in a report on Wednesday, July 31st. Barclays reaffirmed a “sell” rating and set a $76.00 price objective on shares of Eaton in a report on Thursday, June 6th. Finally, Royal Bank of Canada set a $84.00 price objective on Eaton and gave the stock a “hold” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $88.55.
Shares of ETN traded down $0.28 during mid-day trading on Friday, hitting $78.37. 1,631,546 shares of the stock were exchanged, compared to its average volume of 2,394,371. The company has a market cap of $33.21 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 1.54 and a beta of 1.44. Eaton has a 52-week low of $64.46 and a 52-week high of $89.46. The firm has a 50-day moving average of $79.94 and a two-hundred day moving average of $80.26. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.18 and a current ratio of 1.83.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Thursday, August 1st. Eaton’s dividend payout ratio (DPR) is presently 52.69%.
In other news, insider Richard H. Fearon sold 80,592 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $82.75, for a total value of $6,668,988.00. Following the completion of the sale, 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 can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Colonial Trust Advisors grew its position in Eaton by 1.0% during the second quarter. Colonial Trust Advisors now owns 43,736 shares of the industrial products company’s stock valued at $3,643,000 after buying an additional 442 shares during the period. NewSquare Capital LLC lifted its holdings in shares of Eaton by 5.6% in the second quarter. NewSquare Capital LLC now owns 22,805 shares of the industrial products company’s stock worth $1,899,000 after buying an additional 1,211 shares in the last quarter. Ellevest Inc. purchased a new stake in shares of Eaton in the second quarter worth about $35,000. Vestmark Advisory Solutions Inc. increased its position in shares of Eaton by 12.2% in the second quarter. Vestmark Advisory Solutions Inc. now owns 25,508 shares of the industrial products company’s stock worth $2,124,000 after purchasing an additional 2,765 shares during the last quarter. Finally, Delphi Management Inc. MA bought a new position in shares of Eaton in the second quarter worth approximately $595,000. 77.20% of the stock is owned by hedge funds and other institutional investors.
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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