Eaton (ETN) to Release Earnings on Tuesday

Eaton (NYSE:ETN) is scheduled to 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 wish to listen to the company’s conference call can do so using this link.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous 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 Performance

ETN opened at $324.30 on Friday. The business’s 50 day moving average is $304.82 and its 200-day moving average is $258.60. The stock has a market cap of $129.56 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 2.63 and a beta of 1.07. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. Eaton has a twelve month low of $162.04 and a twelve month high of $331.47.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.16%. Eaton’s dividend payout ratio is presently 46.88%.

Analysts Set New Price Targets

A number of research analysts recently commented on ETN shares. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $286.00 to $371.00 in a research note on Friday, April 5th. Mizuho raised their price objective on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. UBS Group raised their price objective on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Bank of America raised their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Citigroup lifted their price target on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target of $295.60.

Insiders Place Their Bets

In other Eaton news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,969 shares of company stock worth $10,904,774. Corporate insiders own 0.53% of the company’s stock.

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.