Zacks: Brokerages Anticipate Eaton Co. PLC (NYSE:ETN) to Post $1.42 EPS
Analysts expect that Eaton Co. PLC (NYSE:ETN) will report earnings of $1.42 per share for the current quarter, according to Zacks Investment Research. 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 $1.46. Eaton reported earnings per share of $1.46 in the same quarter last year, which indicates a negative year over year growth rate of 2.7%. The company is expected to announce its next earnings report on Thursday, January 30th.
According to Zacks, analysts expect that Eaton will report full-year earnings of $5.73 per share for the current year, with EPS estimates ranging from $5.70 to $5.77. For the next fiscal year, analysts forecast that the firm will report earnings of $5.93 per share, with EPS estimates ranging from $5.60 to $6.35. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Eaton.
Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ 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 last year, the business posted $1.43 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis.
In other news, Director Deborah L. Mccoy sold 3,000 shares of Eaton stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $79.18, for a total transaction of $237,540.00. Following the transaction, the director now directly owns 29,936 shares of the company’s stock, valued at $2,370,332.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael J. Critelli sold 10,000 shares of Eaton stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $92.00, for a total transaction of $920,000.00. Following the transaction, the director now directly owns 55,566 shares in the company, valued at $5,112,072. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,988 shares of company stock worth $7,359,428. Insiders own 0.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ETN. Nuveen Asset Management LLC boosted its position in shares of Eaton by 16,401.5% during the second quarter. Nuveen Asset Management LLC now owns 3,151,288 shares of the industrial products company’s stock worth $262,439,000 after purchasing an additional 3,132,191 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Eaton by 61.8% during the second quarter. AQR Capital Management LLC now owns 3,988,837 shares of the industrial products company’s stock worth $331,074,000 after acquiring an additional 1,524,042 shares during the period. Invesco Ltd. raised its holdings in shares of Eaton by 28.1% during the second quarter. Invesco Ltd. now owns 5,815,463 shares of the industrial products company’s stock worth $484,312,000 after acquiring an additional 1,276,325 shares during the period. Eaton Vance Management raised its holdings in shares of Eaton by 501.2% during the second quarter. Eaton Vance Management now owns 929,311 shares of the industrial products company’s stock worth $77,393,000 after acquiring an additional 774,731 shares during the period. Finally, Lansdowne Partners UK LLP raised its holdings in shares of Eaton by 507.5% during the second quarter. Lansdowne Partners UK LLP now owns 892,699 shares of the industrial products company’s stock worth $74,344,000 after acquiring an additional 745,762 shares during the period. 79.03% of the stock is currently owned by institutional investors.
Shares of ETN traded down $0.52 during mid-day trading on Thursday, hitting $90.21. 2,680,566 shares of the company traded hands, compared to its average volume of 2,348,577. Eaton has a one year low of $64.46 and a one year high of $92.96. 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 business has a 50-day moving average of $85.22 and a 200 day moving average of $81.61. The stock has a market capitalization of $37.95 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.83 and a beta of 1.42.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $0.71 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.84 dividend on an annualized basis and a yield of 3.15%. Eaton’s payout ratio is presently 52.69%.
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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