Eaton (ETN) Projected to Post Quarterly Earnings on Friday

Eaton (NYSE:ETN) will likely be posting its quarterly earnings results before the market opens on Friday, January 31st. Analysts expect Eaton to post earnings of $2.82 per share and revenue of $6.34 billion for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

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

Eaton Price Performance

Shares of Eaton stock traded down $0.97 on Tuesday, hitting $310.58. 7,070,020 shares of the company were exchanged, compared to its average volume of 3,263,577. The stock has a market capitalization of $122.74 billion, a price-to-earnings ratio of 33.05, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton has a 1-year low of $244.35 and a 1-year high of $379.99. The company has a 50-day moving average price of $353.01 and a 200 day moving average price of $331.34.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ETN shares. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Bank of America upped their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company cut their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $369.30.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. Company insiders own 0.53% of the company’s stock.

Eaton Company Profile

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.