Posted by admin on May 26th, 2022
Equities analysts forecast that Eaton Co. plc (NYSE:ETN – Get Rating) will report $1.83 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Eaton’s earnings, with estimates ranging from $1.80 to $1.88. Eaton posted earnings per share of $1.72 during the same quarter last year, which would indicate a positive year over year growth rate of 6.4%. The firm is expected to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Eaton will report full year earnings of $7.52 per share for the current financial year, with EPS estimates ranging from $7.45 to $7.60. For the next fiscal year, analysts anticipate that the business will post earnings of $8.36 per share, with EPS estimates ranging from $8.25 to $8.50. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Eaton.
Eaton (NYSE:ETN – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. Eaton had a net margin of 11.21% and a return on equity of 16.92%. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the business earned $1.44 earnings per share. Eaton’s revenue was up 3.2% compared to the same quarter last year.
A number of equities analysts have recently commented on ETN shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Eaton from $176.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. William Blair reaffirmed a “market perform” rating on shares of Eaton in a research note on Thursday, March 3rd. Wolfe Research lowered their target price on shares of Eaton from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Monday, February 7th. Barclays downgraded shares of Eaton from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a research note on Tuesday. Finally, Wells Fargo & Company raised their target price on shares of Eaton from $149.00 to $159.00 in a research note on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $171.80.
ETN stock opened at $134.08 on Thursday. The firm has a 50 day moving average of $145.93 and a 200-day moving average of $156.71. The company has a current ratio of 0.99, a quick ratio of 0.59 and a debt-to-equity ratio of 0.41. Eaton has a 12 month low of $130.43 and a 12 month high of $175.72. The firm has a market capitalization of $53.50 billion, a P/E ratio of 24.25, a price-to-earnings-growth ratio of 1.65 and a beta of 1.15.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 13th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Thursday, May 12th. Eaton’s payout ratio is 58.59%.
In related news, insider Joao V. Faria sold 11,852 shares of Eaton stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $150.00, for a total value of $1,777,800.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.56% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. boosted its holdings in shares of Eaton by 288.6% during the 1st quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company’s stock valued at $26,000 after buying an additional 127 shares in the last quarter. Bell Investment Advisors Inc bought a new position in Eaton in the 3rd quarter worth about $27,000. Hazlett Burt & Watson Inc. bought a new position in Eaton in the 1st quarter worth about $30,000. Arlington Partners LLC bought a new position in Eaton in the 4th quarter worth about $31,000. Finally, Steward Financial Group LLC bought a new position in Eaton in the 1st quarter worth about $32,000. Institutional investors and hedge funds own 79.10% of the company’s stock.
Eaton Company Profile (Get Rating)
Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.
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