Eaton (ETN) Releases FY 2018 Earnings Guidance

Eaton (NYSE:ETN) issued an update on its FY 2018 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.30-5.40 for the period, compared to the Thomson Reuters consensus estimate of $5.36. Eaton also updated its FY18 guidance to $5.30-5.40 EPS.

Shares of Eaton stock traded down $1.43 on Tuesday, hitting $69.60. The company’s stock had a trading volume of 3,559,393 shares, compared to its average volume of 2,911,588. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 0.40. Eaton has a 1 year low of $69.97 and a 1 year high of $89.85. The firm has a market cap of $31.20 billion, a PE ratio of 14.97, a P/E/G ratio of 1.31 and a beta of 1.35.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.07. Eaton had a return on equity of 13.11% and a net margin of 14.80%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same quarter in the previous year, the business earned $1.15 EPS. Eaton’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts expect that Eaton will post 5.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, November 2nd will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $2.64 annualized dividend and a yield of 3.79%. Eaton’s dividend payout ratio (DPR) is currently 56.77%.

Several equities research analysts have commented on the company. Deutsche Bank boosted their price objective on Eaton from $92.00 to $95.00 and gave the stock a buy rating in a research note on Thursday, August 16th. Zacks Investment Research lowered Eaton from a buy rating to a hold rating in a research note on Tuesday, August 7th. Barclays boosted their price objective on Eaton from $71.00 to $77.00 and gave the stock an underweight rating in a research note on Wednesday, August 1st. Gordon Haskett assumed coverage on Eaton in a research note on Friday, October 12th. They set a sell rating for the company. Finally, ValuEngine upgraded Eaton from a sell rating to a hold rating in a research note on Thursday, July 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $89.06.

In related news, insider Revathi Advaithi sold 15,500 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $82.98, for a total value of $1,286,190.00. Following the transaction, the insider now directly owns 24,715 shares in the company, valued at $2,050,850.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Deborah L. Mccoy sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $84.55, for a total value of $253,650.00. Following the completion of the transaction, the director now owns 32,936 shares in the company, valued at $2,784,738.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,000 shares of company stock worth $4,617,645. Insiders own 0.50% of the company’s stock.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Earnings History and Estimates for Eaton (NYSE:ETN)

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