Eaton (NYSE:ETN) Releases Q2 2021 Earnings Guidance

Eaton (NYSE:ETN) updated its second quarter 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.450-1.550 for the period, compared to the Thomson Reuters consensus estimate of $1.280. The company issued revenue guidance of -.Eaton also updated its FY 2021 guidance to 5.900-6.300 EPS.

A number of equities research analysts have recently weighed in on the company. Barclays lifted their target price on Eaton from $115.00 to $125.00 and gave the stock an underweight rating in a report on Tuesday, April 6th. Citigroup boosted their price target on Eaton from $142.00 to $158.00 and gave the company a buy rating in a research note on Wednesday, March 31st. Morgan Stanley boosted their price target on Eaton from $155.00 to $164.00 and gave the company an overweight rating in a research note on Tuesday. Zacks Investment Research downgraded Eaton from a buy rating to a hold rating and set a $150.00 price target for the company. in a research note on Tuesday, April 6th. Finally, HSBC raised Eaton from a hold rating to a buy rating and boosted their price target for the company from $103.00 to $140.00 in a research note on Tuesday, February 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $148.13.

ETN stock traded down $1.91 during trading on Wednesday, hitting $143.85. The company had a trading volume of 97,734 shares, compared to its average volume of 2,238,050. The business has a 50-day moving average of $141.35 and a 200-day moving average of $126.63. Eaton has a one year low of $70.54 and a one year high of $149.38. The stock has a market cap of $57.32 billion, a PE ratio of 42.63, a PEG ratio of 2.34 and a beta of 1.12. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.48.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, May 4th. The industrial products company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.19. The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.53 billion. Eaton had a return on equity of 11.94% and a net margin of 7.53%. Eaton’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. Research analysts forecast that Eaton will post 4.17 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Friday, May 14th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, May 13th. Eaton’s payout ratio is presently 53.62%.

In related news, insider Brian S. Brickhouse sold 22,758 shares of the business’s stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $135.80, for a total transaction of $3,090,536.40. Following the completion of the transaction, the insider now directly owns 15,587 shares in the company, valued at $2,116,714.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Uday Yadav sold 2,213 shares of Eaton stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $135.12, for a total value of $299,020.56. Over the last three months, insiders sold 50,994 shares of company stock worth $7,031,994. Insiders own 0.54% of the company’s stock.

About Eaton

Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.

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Earnings History and Estimates for Eaton (NYSE:ETN)

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