Analysts Anticipate Eaton Co. PLC (ETN) to Post $1.44 EPS

Equities research analysts forecast that Eaton Co. PLC (NYSE:ETN) will post earnings per share (EPS) of $1.44 for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Eaton’s earnings, with estimates ranging from $1.41 to $1.46. Eaton posted earnings per share of $1.25 in the same quarter last year, which would suggest a positive year over year growth rate of 15.2%. The company is expected to report its next earnings results before the market opens on Tuesday, October 30th.

According to Zacks, analysts expect that Eaton will report full year earnings of $5.37 per share for the current fiscal year, with EPS estimates ranging from $5.33 to $5.43. For the next year, analysts anticipate that the business will post earnings of $5.94 per share, with EPS estimates ranging from $5.70 to $6.13. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Eaton.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.07. Eaton had a return on equity of 13.11% and a net margin of 14.80%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same period last year, the company earned $1.15 earnings per share. Eaton’s quarterly revenue was up 6.9% compared to the same quarter last year.

ETN has been the subject of several recent research reports. Wells Fargo & Co reiterated a “buy” rating on shares of Eaton in a report on Wednesday, September 26th. Morgan Stanley initiated coverage on Eaton in a report on Monday, August 20th. They set an “equal weight” rating and a $86.00 price objective for the company. UBS Group upgraded Eaton from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $91.00 to $100.00 in a report on Friday, September 21st. Deutsche Bank increased their price objective on Eaton from $92.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Finally, MED upgraded Eaton from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Thursday, July 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $89.06.

In other news, insider Ken D. Semelsberger sold 11,500 shares of Eaton stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $86.57, for a total value of $995,555.00. Following the transaction, the insider now directly owns 78,883 shares in the company, valued at $6,828,901.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deborah L. Mccoy sold 3,000 shares of Eaton stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $84.55, for a total value of $253,650.00. Following the completion of the transaction, the director now owns 32,936 shares in the company, valued at $2,784,738.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,000 shares of company stock worth $4,617,645. Corporate insiders own 0.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of ETN. LPL Financial LLC increased its stake in shares of Eaton by 10.5% in the first quarter. LPL Financial LLC now owns 121,807 shares of the industrial products company’s stock worth $9,734,000 after purchasing an additional 11,599 shares during the period. CIBC World Markets Inc. increased its stake in shares of Eaton by 265.2% in the first quarter. CIBC World Markets Inc. now owns 20,690 shares of the industrial products company’s stock worth $1,653,000 after purchasing an additional 15,024 shares during the period. Summit Trail Advisors LLC increased its stake in shares of Eaton by 7,757.2% in the first quarter. Summit Trail Advisors LLC now owns 166,180 shares of the industrial products company’s stock worth $166,000 after purchasing an additional 164,065 shares during the period. Allianz Asset Management GmbH grew its position in Eaton by 4.7% during the first quarter. Allianz Asset Management GmbH now owns 2,005,237 shares of the industrial products company’s stock worth $160,238,000 after buying an additional 89,950 shares in the last quarter. Finally, Financial Gravity Wealth Inc. acquired a new stake in Eaton during the first quarter worth about $280,000. Institutional investors and hedge funds own 77.75% of the company’s stock.

Shares of NYSE:ETN traded down $0.86 during midday trading on Friday, hitting $77.52. 75,975 shares of the stock were exchanged, compared to its average volume of 2,530,335. The company has a current ratio of 1.47, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40. Eaton has a 52-week low of $71.62 and a 52-week high of $89.85. The firm has a market cap of $34.58 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 1.45 and a beta of 1.36.

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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