Eaton (NYSE:ETN) Issues FY21 Earnings Guidance


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Eaton (NYSE:ETN) issued an update on its FY21 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.90-$6.30 for the period, compared to the Thomson Reuters consensus estimate of $5.61. Eaton also updated its FY 2021 guidance to 5.900-6.300 EPS.

Shares of ETN stock traded up $0.31 during trading hours on Tuesday, reaching $144.67. 3,717,544 shares of the stock traded hands, compared to its average volume of 2,270,669. 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 has a market capitalization of $57.63 billion, a PE ratio of 42.55, a PEG ratio of 2.34 and a beta of 1.12. Eaton has a 1-year low of $70.54 and a 1-year high of $145.95. The business has a fifty day moving average price of $139.84 and a 200 day moving average price of $125.31.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, May 4th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.19. Eaton had a net margin of 7.53% and a return on equity of 11.94%. The company had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the previous year, the business earned $1.09 EPS. The company’s revenue was down 1.9% on a year-over-year basis. Research analysts expect that Eaton will post 4.17 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Friday, May 14th will be given 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 yield of 2.10%. Eaton’s payout ratio is presently 53.62%.

A number of analysts have recently issued reports on ETN shares. Robert W. Baird increased their price target on shares of Eaton from $140.00 to $151.00 and gave the stock a neutral rating in a research report on Tuesday. Oppenheimer lifted their target price on shares of Eaton from $133.00 to $145.00 in a research note on Tuesday, March 2nd. HSBC raised shares of Eaton from a hold rating to a buy rating and upped their price target for the stock from $103.00 to $140.00 in a research note on Tuesday, February 16th. Citigroup lifted their price objective on Eaton from $142.00 to $158.00 and gave the company a buy rating in a research report on Wednesday, March 31st. Finally, Barclays upped their target price on Eaton from $115.00 to $125.00 and gave the stock an underweight rating in a research report on Tuesday, April 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $137.56.

In other news, insider Uday Yadav sold 2,213 shares of the firm’s stock in a transaction on Friday, March 5th. The shares were sold at an average price of $135.12, for a total value of $299,020.56. Also, insider Brian S. Brickhouse sold 22,758 shares of the business’s stock in a transaction on Wednesday, March 3rd. The stock was sold at an average price of $135.80, for a total transaction of $3,090,536.40. Following the transaction, the insider now directly owns 15,587 shares in the company, valued at approximately $2,116,714.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,740 shares of company stock valued at $4,945,066. Company insiders own 0.54% of the company’s stock.

About Eaton

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 and Estimates for Eaton (NYSE:ETN)

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