Eaton Corporation, PLC (NYSE:ETN) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.20-1.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.28. Eaton Corporation, PLC also updated its FY17 guidance to $4.50-4.70 EPS.
Several brokerages have weighed in on ETN. Argus reiterated a buy rating and issued a $85.00 target price (up from $83.00) on shares of Eaton Corporation, PLC in a research note on Tuesday, May 30th. Zacks Investment Research upgraded Eaton Corporation, PLC from a hold rating to a buy rating and set a $87.00 price target on the stock in a research note on Friday, May 26th. BidaskClub downgraded Eaton Corporation, PLC from a sell rating to a strong sell rating in a research report on Thursday, August 10th. Stifel Nicolaus reiterated a hold rating and set a $80.00 target price on shares of Eaton Corporation, PLC in a research report on Friday, July 7th. Finally, Jefferies Group LLC reiterated a hold rating and set a $75.00 target price on shares of Eaton Corporation, PLC in a research report on Tuesday, May 2nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $78.54.
Shares of Eaton Corporation, PLC (ETN) opened at 71.20 on Friday. The firm has a market cap of $31.67 billion, a PE ratio of 16.32 and a beta of 1.35. Eaton Corporation, PLC has a 52 week low of $59.07 and a 52 week high of $81.63. The firm’s 50-day moving average price is $76.76 and its 200 day moving average price is $75.08.
Eaton Corporation, PLC (NYSE:ETN) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.16 by $0.01. Eaton Corporation, PLC had a return on equity of 12.93% and a net margin of 9.95%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the company earned $1.07 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts anticipate that Eaton Corporation, PLC will post $4.61 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Friday, August 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $2.40 annualized dividend and a dividend yield of 3.37%. Eaton Corporation, PLC’s dividend payout ratio is 54.79%.
Eaton Corporation, PLC 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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