Wall Street analysts predict that Eaton Co. PLC (NYSE:ETN) will report $5.40 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 $5.33 billion to $5.57 billion. Eaton posted sales of $5.46 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.1%. The company is expected to announce its next earnings report on Thursday, January 30th.
On average, analysts expect that Eaton will report full-year sales of $21.56 billion for the current year, with estimates ranging from $21.48 billion to $21.72 billion. For the next financial year, analysts forecast that the company will post sales of $21.25 billion, with estimates ranging from $19.83 billion to $22.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Eaton.
Eaton (NYSE:ETN) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.01. Eaton had a net margin of 11.06% and a return on equity of 15.15%. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the business posted $1.43 earnings per share. Eaton’s revenue for the quarter was down 1.8% compared to the same quarter last year.
Shares of NYSE ETN traded up $1.06 during mid-day trading on Monday, reaching $94.45. The company had a trading volume of 2,735,121 shares, compared to its average volume of 2,207,427. Eaton has a twelve month low of $64.46 and a twelve month high of $93.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.10 and a current ratio of 1.72. The stock has a market capitalization of $38.35 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 1.85 and a beta of 1.43. The stock’s 50 day moving average is $90.43 and its 200-day moving average is $82.94.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.01%. The ex-dividend date was Thursday, October 31st. Eaton’s payout ratio is 52.69%.
In other Eaton news, Director Michael J. Critelli sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $92.00, for a total transaction of $920,000.00. Following the completion of the sale, the director now directly owns 55,566 shares in the company, valued at $5,112,072. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ken D. Semelsberger sold 17,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.69, for a total transaction of $1,507,730.00. Following the sale, the insider now owns 69,936 shares of the company’s stock, valued at $6,202,623.84. The disclosure for this sale can be found here. Insiders have sold 77,988 shares of company stock worth $7,034,998 over the last three months. Company insiders own 0.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Resources Management Corp CT ADV bought a new position in shares of Eaton during the third quarter worth $106,000. Signet Financial Management LLC purchased a new stake in Eaton in the 3rd quarter worth approximately $1,284,000. Squarepoint Ops LLC purchased a new stake in Eaton in the 3rd quarter worth approximately $10,823,000. IHT Wealth Management LLC purchased a new stake in Eaton in the 3rd quarter worth approximately $219,000. Finally, Wealthsource Partners LLC increased its holdings in Eaton by 15.6% in the 3rd quarter. Wealthsource Partners LLC now owns 6,002 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 811 shares in the last quarter. Institutional investors own 78.25% 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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