Eaton (ETN) Projected to Post Quarterly 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 released 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 during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.47 earnings per share. 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 ETN stock opened at $317.90 on Thursday. The company has a market capitalization of $125.63 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The firm has a fifty day simple moving average of $351.98 and a 200-day simple moving average of $331.21. 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 twelve month low of $245.65 and a twelve month high of $379.99.

Insider Activity

In other Eaton news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was 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 directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ETN. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. UBS Group assumed coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Citigroup reduced their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Barclays increased their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $369.30.

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.