Eaton (ETN) Issues Q4 2018 Earnings Guidance

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Eaton (NYSE:ETN) issued an update on its fourth quarter 2018 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.38-1.48 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.44. Eaton also updated its FY 2018 guidance to $5.30-5.40 EPS.

NYSE ETN opened at $71.03 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.96 and a current ratio of 1.47. Eaton has a 1 year low of $69.97 and a 1 year high of $89.85. The firm has a market capitalization of $31.20 billion, a P/E ratio of 15.28, a PEG ratio of 1.31 and a beta of 1.35.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to the consensus estimate of $5.45 billion. During the same period in the prior year, the firm earned $1.15 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. On average, analysts expect that Eaton will post 5.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Thursday, November 1st. Eaton’s payout ratio is 56.77%.

ETN has been the topic of several research reports. Wells Fargo & Co reissued a buy rating on shares of Eaton in a research report on Wednesday, September 26th. Deutsche Bank upped their target price on Eaton from $95.00 to $102.00 and gave the company a buy rating in a research report on Friday, September 28th. Morgan Stanley initiated coverage on Eaton in a research report on Monday, August 20th. They issued an equal weight rating and a $86.00 target price on the stock. UBS Group raised Eaton from a neutral rating to a buy rating and upped their target price for the company from $91.00 to $100.00 in a research report on Friday, September 21st. Finally, MED raised Eaton from a hold rating to a buy rating and set a $86.00 price target on the stock in a research report on Thursday, July 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $89.06.

In other news, insider Richard H. Fearon sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $83.29, for a total transaction of $2,082,250.00. Following the sale, the insider now directly owns 221,459 shares in the company, valued at approximately $18,445,320.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deborah L. Mccoy sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $84.55, for a total value of $253,650.00. Following the sale, 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. Insiders have sold a total of 55,000 shares of company stock worth $4,617,645 over the last ninety days. 0.50% of the stock is owned by insiders.

Eaton Company Profile

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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