Zacks: Brokerages Expect Eaton Co. plc (NYSE:ETN) Will Post Quarterly Sales of $4.52 Billion


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Analysts expect Eaton Co. plc (NYSE:ETN) to report $4.52 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Eaton’s earnings, with estimates ranging from $4.48 billion to $4.58 billion. Eaton posted sales of $4.79 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.6%. The business is scheduled to report its next quarterly earnings results on Thursday, April 29th.

On average, analysts expect that Eaton will report full year sales of $17.71 billion for the current year, with estimates ranging from $17.27 billion to $18.21 billion. For the next year, analysts anticipate that the company will post sales of $18.77 billion, with estimates ranging from $17.48 billion to $19.81 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Eaton.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Monday, February 1st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.08. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.62 billion. Eaton had a net margin of 7.53% and a return on equity of 11.94%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.37 EPS.

Several equities research analysts have commented on ETN shares. Argus upped their price objective on shares of Eaton from $120.00 to $130.00 in a report on Thursday, December 10th. Barclays raised their target price on shares of Eaton from $95.00 to $105.00 in a report on Thursday, November 5th. HSBC raised Eaton from a “hold” rating to a “buy” rating and raised their price target for the stock from $103.00 to $140.00 in a research note on Tuesday, February 16th. Jefferies Financial Group raised their price objective on Eaton from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, January 15th. Finally, Morgan Stanley raised their price objective on Eaton from $125.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 20th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $119.22.

In other Eaton news, Director Deborah L. Mccoy sold 1,500 shares of the business’s stock in a transaction dated Friday, December 4th. The stock was sold at an average price of $119.58, for a total transaction of $179,370.00. Following the completion of the sale, the director now directly owns 25,436 shares in the company, valued at approximately $3,041,636.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Eaton by 15.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,626,633 shares of the industrial products company’s stock valued at $2,390,544,000 after buying an additional 3,243,644 shares in the last quarter. State Street Corp lifted its position in shares of Eaton by 0.6% during the 3rd quarter. State Street Corp now owns 17,707,981 shares of the industrial products company’s stock valued at $1,806,745,000 after buying an additional 106,499 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Eaton by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,809,749 shares of the industrial products company’s stock valued at $697,984,000 after buying an additional 489,453 shares in the last quarter. Morgan Stanley lifted its position in shares of Eaton by 4.7% during the 4th quarter. Morgan Stanley now owns 3,234,609 shares of the industrial products company’s stock valued at $388,606,000 after buying an additional 143,778 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Eaton by 12.1% in the 4th quarter. Wells Fargo & Company MN now owns 3,223,176 shares of the industrial products company’s stock worth $387,233,000 after purchasing an additional 349,100 shares in the last quarter. 77.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ETN traded up $0.01 during trading on Tuesday, hitting $130.86. The stock had a trading volume of 2,963,342 shares, compared to its average volume of 2,214,561. The firm has a fifty day moving average of $123.33 and a two-hundred day moving average of $112.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.49 and a quick ratio of 1.13. The company has a market capitalization of $52.16 billion, a PE ratio of 38.39, a PEG ratio of 2.34 and a beta of 1.12. Eaton has a 12 month low of $56.42 and a 12 month high of $131.72.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, wiring devices, and structural support systems; and residential, single phase power quality, emergency lighting and fire detection, and circuit protection and lighting products.

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Earnings History and Estimates for Eaton (NYSE:ETN)

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