$1.42 EPS Expected for Eaton Co. PLC (NYSE:ETN) This Quarter

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Wall Street analysts forecast that Eaton Co. PLC (NYSE:ETN) will announce $1.42 earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have made estimates for Eaton’s earnings, with the lowest EPS estimate coming in at $1.39 and the highest estimate coming in at $1.45. Eaton posted earnings per share of $1.46 during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.7%. The company is expected to issue its next quarterly earnings report on Thursday, January 30th.

On average, analysts expect that Eaton will report full year earnings of $5.72 per share for the current fiscal year, with EPS estimates ranging from $5.70 to $5.75. For the next fiscal year, analysts expect that the firm will post earnings of $5.90 per share, with EPS estimates ranging from $5.60 to $6.35. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Eaton.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the business earned $1.43 EPS. The firm’s revenue was down 1.8% on a year-over-year basis.

Several brokerages have recently issued reports on ETN. Robert W. Baird boosted their price target on shares of Eaton from $80.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. HSBC lowered shares of Eaton from a “buy” rating to a “hold” rating and decreased their price target for the company from $99.00 to $96.00 in a report on Tuesday, November 12th. Vertical Research lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $85.00 price target for the company. in a report on Wednesday, October 9th. Vertical Group lowered shares of Eaton from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, Deutsche Bank lowered shares of Eaton from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.69.

In related news, insider Richard H. Fearon sold 34,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $90.05, for a total value of $3,061,700.00. Following the completion of the transaction, the insider now directly owns 200,384 shares of the company’s stock, valued at approximately $18,044,579.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joao V. Faria sold 16,988 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $90.98, for a total transaction of $1,545,568.24. Following the completion of the transaction, the insider now directly owns 58,841 shares of the company’s stock, valued at $5,353,354.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,988 shares of company stock valued at $5,527,268. Company insiders own 0.70% of the company’s stock.

Large investors have recently modified their holdings of the business. Edgestream Partners L.P. bought a new stake in Eaton during the 2nd quarter worth about $311,000. Janney Montgomery Scott LLC lifted its position in Eaton by 0.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 284,809 shares of the industrial products company’s stock worth $23,719,000 after buying an additional 1,747 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its position in Eaton by 10.8% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 2,781 shares of the industrial products company’s stock worth $232,000 after buying an additional 270 shares in the last quarter. Redpoint Investment Management Pty Ltd lifted its position in Eaton by 37.1% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 46,448 shares of the industrial products company’s stock worth $3,868,000 after buying an additional 12,576 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in Eaton by 1,284.5% during the 2nd quarter. Bahl & Gaynor Inc. now owns 657,529 shares of the industrial products company’s stock worth $54,759,000 after buying an additional 610,037 shares in the last quarter. 78.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ETN stock traded down $0.85 on Friday, hitting $93.60. The stock had a trading volume of 1,611,981 shares, compared to its average volume of 2,106,207. Eaton has a twelve month low of $64.46 and a twelve month high of $94.96. The firm has a market cap of $38.61 billion, a P/E ratio of 17.37, a PEG ratio of 1.86 and a beta of 1.43. The company has a current ratio of 1.72, a quick ratio of 1.10 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average price of $90.80 and a two-hundred day moving average price of $83.10.

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Thursday, October 31st. Eaton’s payout ratio is presently 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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