Eaton (NYSE:ETN) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS


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Eaton (NYSE:ETN) released its quarterly earnings results on Tuesday. The industrial products company reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.19, MarketWatch Earnings reports. Eaton had a net margin of 7.53% and a return on equity of 11.94%. The firm had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year.

NYSE:ETN traded down $1.69 during midday trading on Tuesday, hitting $142.67. The stock had a trading volume of 15,342 shares, compared to its average volume of 2,253,211. Eaton has a one year low of $70.54 and a one year high of $145.95. The company has a market capitalization of $56.83 billion, a price-to-earnings ratio of 42.46, a PEG ratio of 2.34 and a beta of 1.12. The stock has a 50-day moving average of $139.77 and a 200 day moving average of $125.13. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.48.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Stockholders of record on Friday, May 14th will be paid a dividend of $0.76 per share. The ex-dividend date is Thursday, May 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.13%. Eaton’s dividend payout ratio is 53.62%.

In related news, insider Brian S. Brickhouse sold 22,758 shares of the stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $135.80, for a total value of $3,090,536.40. Following the transaction, the insider now owns 15,587 shares of the company’s stock, valued at $2,116,714.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Uday Yadav sold 11,769 shares of the stock in a transaction that occurred on Thursday, February 25th. The stock was sold at an average price of $132.17, for a total value of $1,555,508.73. Following the completion of the transaction, the insider now directly owns 22,436 shares in the company, valued at approximately $2,965,366.12. The disclosure for this sale can be found here. In the last three months, insiders sold 36,740 shares of company stock worth $4,945,066. 0.54% of the stock is owned by insiders.

ETN has been the subject of several research reports. Jefferies Financial Group upped their price target on shares of Eaton from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, January 15th. Citigroup boosted their price objective on Eaton from $142.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, March 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on Eaton from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Monday, April 19th. Oppenheimer upped their price objective on Eaton from $133.00 to $145.00 in a research note on Tuesday, March 2nd. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on Eaton from $142.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, March 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $136.94.

Eaton Company Profile

Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.

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Earnings History for Eaton (NYSE:ETN)

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