Brokerages Expect Eaton Corporation, PLC (ETN) Will Post Quarterly Sales of $5.09 Billion

Wall Street brokerages expect Eaton Corporation, PLC (NYSE:ETN) to announce sales of $5.09 billion for the current quarter, Zacks reports. Eight analysts have issued estimates for Eaton’s earnings, with the lowest sales estimate coming in at $5.04 billion and the highest estimate coming in at $5.16 billion. Eaton posted sales of $4.87 billion during the same quarter last year, which suggests a positive year over year growth rate of 4.5%. The business is expected to report its next earnings report before the market opens on Thursday, February 1st.

On average, analysts expect that Eaton will report full-year sales of $5.09 billion for the current financial year, with estimates ranging from $20.23 billion to $20.35 billion. For the next year, analysts expect that the company will post sales of $21.07 billion per share, with estimates ranging from $20.78 billion to $21.29 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Eaton.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.25 EPS for the quarter, hitting analysts’ consensus estimates of $1.25. Eaton had a net margin of 14.21% and a return on equity of 12.89%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The company’s revenue was up 6.4% on a year-over-year basis.

A number of equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Eaton from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Robert W. Baird upgraded shares of Eaton from a “neutral” rating to an “outperform” rating and upped their target price for the company from $82.00 to $92.00 in a research report on Wednesday, January 3rd. Stifel Nicolaus restated a “hold” rating and set a $80.00 target price on shares of Eaton in a research report on Monday, December 11th. Citigroup upped their target price on shares of Eaton from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, Jefferies Group upped their target price on shares of Eaton from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Wednesday, November 1st. Five analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $83.43.

Shares of Eaton (ETN) traded up $0.39 during trading hours on Friday, reaching $83.95. 3,215,005 shares of the company’s stock were exchanged, compared to its average volume of 2,380,000. Eaton has a 12-month low of $66.98 and a 12-month high of $84.50. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The company has a market cap of $36,820.00, a price-to-earnings ratio of 19.25, a P/E/G ratio of 1.96 and a beta of 1.38.

In related news, insider Nandakumar Cheruvatath sold 10,000 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $77.50, for a total value of $775,000.00. Following the sale, the insider now directly owns 16,571 shares in the company, valued at approximately $1,284,252.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Revathi Advaithi sold 23,743 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $78.36, for a total transaction of $1,860,501.48. Following the completion of the sale, the insider now owns 31,028 shares in the company, valued at $2,431,354.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,938 shares of company stock worth $4,597,529. Corporate insiders own 0.80% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Cable Hill Partners LLC raised its position in shares of Eaton by 174.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 867 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in shares of Eaton in the 3rd quarter valued at approximately $130,000. Harfst & Associates Inc. raised its position in shares of Eaton by 21.8% in the 2nd quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 322 shares during the period. Carroll Financial Associates Inc. raised its position in shares of Eaton by 113.6% in the 4th quarter. Carroll Financial Associates Inc. now owns 2,805 shares of the industrial products company’s stock valued at $221,000 after acquiring an additional 1,492 shares during the period. Finally, Wealthsource Partners LLC acquired a new stake in shares of Eaton in the 2nd quarter valued at approximately $226,000. Institutional investors and hedge funds own 76.54% of the company’s stock.

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Eaton Company Profile

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

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Earnings History and Estimates for Eaton (NYSE:ETN)

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