Equities analysts expect Eaton Co., PLC (NYSE:ETN) to announce sales of $5.10 billion for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Eaton’s earnings, with the lowest sales estimate coming in at $5.06 billion and the highest estimate coming in at $5.17 billion. Eaton reported sales of $4.85 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.2%. The business is scheduled to issue its next earnings report on Tuesday, May 1st.
On average, analysts expect that Eaton will report full year sales of $5.10 billion for the current financial year, with estimates ranging from $21.18 billion to $21.52 billion. For the next year, analysts anticipate that the company will post sales of $22.09 billion per share, with estimates ranging from $21.76 billion to $22.39 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Eaton.
Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.04. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.10 billion. Eaton had a net margin of 14.60% and a return on equity of 12.84%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 EPS.
Several research firms recently weighed in on ETN. Oppenheimer restated a “hold” rating on shares of Eaton in a research report on Tuesday, October 31st. Credit Suisse Group restated an “outperform” rating and issued a $92.00 price objective (up from $86.00) on shares of Eaton in a research report on Wednesday, November 1st. Jefferies Group upped their price objective on shares of Eaton from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Wednesday, November 1st. Citigroup upped their price objective on shares of Eaton from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Finally, Stifel Nicolaus restated a “hold” rating and issued a $85.00 price objective on shares of Eaton in a research report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $87.57.
Shares of Eaton (ETN) opened at $81.88 on Friday. Eaton has a 52-week low of $69.82 and a 52-week high of $89.85. The firm has a market capitalization of $35,935.34, a PE ratio of 12.26, a PEG ratio of 1.96 and a beta of 1.39. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 0.41.
In other Eaton news, insider Curtis J. Hutchins sold 14,360 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $78.36, for a total value of $1,125,249.60. Following the completion of the sale, the insider now owns 26,596 shares of the company’s stock, valued at $2,084,062.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nandakumar Cheruvatath sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $77.50, for a total value of $775,000.00. Following the completion of the sale, the insider now directly owns 16,571 shares of the company’s stock, valued at approximately $1,284,252.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,029 shares of company stock valued at $3,195,143. 0.80% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of ETN. Jarislowsky Fraser Ltd purchased a new stake in shares of Eaton during the third quarter valued at approximately $252,000. Oakbrook Investments LLC purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $1,620,000. Argent Capital Management LLC boosted its stake in shares of Eaton by 15.0% during the third quarter. Argent Capital Management LLC now owns 257,804 shares of the industrial products company’s stock valued at $19,797,000 after purchasing an additional 33,566 shares during the period. Atlantic Trust Group LLC boosted its stake in shares of Eaton by 39.4% during the third quarter. Atlantic Trust Group LLC now owns 55,814 shares of the industrial products company’s stock valued at $4,287,000 after purchasing an additional 15,761 shares during the period. Finally, First Financial Bank Trust Division purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $2,576,000. 74.74% of the stock is owned by institutional investors and hedge funds.
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Eaton Company Profile
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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