Eaton (ETN) Expected to Announce Earnings on Friday

Eaton (NYSE:ETN) is expected to issue its quarterly earnings data before the market opens on Friday, January 31st. Analysts expect the company to announce earnings of $2.82 per share and revenue of $6.34 billion for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the firm posted $2.47 EPS. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts expect Eaton to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Eaton Stock Performance

NYSE ETN traded down $0.97 on Tuesday, reaching $310.58. 7,070,020 shares of the stock were exchanged, compared to its average volume of 3,263,577. The firm has a market capitalization of $122.74 billion, a PE ratio of 33.05, a PEG ratio of 2.57 and a beta of 1.06. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton has a one year low of $244.35 and a one year high of $379.99. The company’s 50-day simple moving average is $353.01 and its two-hundred day simple moving average is $331.34.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock worth $27,660,117 over the last quarter. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ETN shares. JPMorgan Chase & Co. decreased their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and lifted their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research report on Tuesday. Royal Bank of Canada lifted their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $369.30.

About Eaton

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.