Eaton (NYSE: ETN)‘s stock had its “buy” rating restated by analysts at TheStreet in a research report issued to clients and investors on Thursday, AnalystRatingsNetwork.com reports.
The analysts wrote, “Eaton Corporation (ETN) has been reiterated by TheStreet Ratings as a buy with a ratings score of A-. The company’s strengths can be seen in multiple areas, such as its revenue growth, increase in net income, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
A number of other analysts have also recently weighed in on ETN. Analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Eaton in a research note to investors on Thursday. They now have a $76.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Eaton in a research note to investors on Tuesday, April 30th. They now have a $63.00 price target on the stock.
Seven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $67.42.
Shares of Eaton (NYSE: ETN) traded up 0.52% during mid-day trading on Thursday, hitting $66.02. Eaton has a one year low of $36.38 and a one year high of $65.71. The stock’s 50-day moving average is currently $60.58. The company has a market cap of $31.234 billion and a P/E ratio of 19.74.
Eaton (NYSE: ETN) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.84 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.79 by $0.05. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter last year, the company posted $0.92 earnings per share. Eaton’s revenue was up 34.1% compared to the same quarter last year. Eaton has set its Q2 guidance at $1.05-1.15 EPS and its FY13 guidance at $4.05-4.45 EPS. On average, analysts predict that Eaton will post $4.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, May 2nd.
Eaton Corporation (NYSE: ETN) is a diversified power management company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.
