Eaton (ETN) Set to Announce Quarterly Earnings on Tuesday

Eaton (NYSE:ETN) will announce its earnings results before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $2.28 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. The business had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. Eaton’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.06 earnings per share. On average, analysts expect Eaton to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Eaton Stock Up 1.7 %

Shares of NYSE:ETN opened at $308.18 on Tuesday. The business has a fifty day moving average price of $301.39 and a two-hundred day moving average price of $255.94. Eaton has a 1 year low of $161.12 and a 1 year high of $331.47. The company has a market capitalization of $123.12 billion, a PE ratio of 38.43, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were issued a $0.94 dividend. The ex-dividend date was Friday, March 8th. This represents a $3.76 annualized dividend and a dividend yield of 1.22%. This is a boost from Eaton’s previous quarterly dividend of $0.86. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Insider Buying and Selling

In related news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eaton news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock valued at $10,904,774 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Evercore ISI increased their price objective on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Berenberg Bank raised their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, UBS Group raised their price target on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

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.