Eaton Corporation, PLC (NYSE:ETN) Updates Q3 Earnings Guidance

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%.

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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.

Earnings History and Estimates for Eaton Corporation, PLC (NYSE:ETN)

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