Eaton (ETN) Set to Announce Earnings on Thursday

Eaton (NYSE:ETN) is scheduled to post its quarterly earnings results before the market opens on Thursday, August 1st. Analysts expect Eaton to post earnings of $2.61 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the firm earned $1.88 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. On average, analysts expect Eaton to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Eaton Stock Performance

Shares of Eaton stock traded up $0.43 on Tuesday, reaching $297.04. 525,327 shares of the company traded hands, compared to its average volume of 2,058,809. The firm has a market capitalization of $118.76 billion, a PE ratio of 35.02, a PEG ratio of 2.49 and a beta of 1.02. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. The company has a 50 day moving average of $321.57 and a 200 day moving average of $304.51. Eaton has a 52 week low of $191.82 and a 52 week high of $345.19.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, August 5th. Eaton’s payout ratio is currently 44.39%.

Insiders Place Their Bets

In other news, insider Peter Denk sold 2,416 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the sale, the insider now directly owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $286.00 to $371.00 in a research note on Friday, April 5th. Mizuho restated a “buy” rating and set a $355.00 price target (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. JPMorgan Chase & Co. increased their target price on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. HSBC increased their target price on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Finally, Jefferies Financial Group increased their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $323.06.

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.