Eaton Corp. (ETN) Issues FY12 Earnings Guidance
Eaton Corp. (ETN) issued an update on its FY12 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.20-4.50 for the period.
A number of analysts have recently weighed in on ETN shares. Analysts at Oppenheimer raised their price target on shares of Eaton Corp. from $54.00 to $58.00 in a research note to investors on Tuesday. They now have an outperform rating on the stock. On a related note, analysts at Barclays Capital reiterated an overweight rating on shares of Eaton Corp. in a research note to investors on Wednesday, September 12th. They now have a $56.00 price target on the stock. Finally, analysts at MKM Partners downgraded shares of Eaton Corp. from a buy rating to a neutral rating in a research note to investors on Wednesday, August 29th. They now have a $50.00 price target on the stock.
Shares of Eaton Corp. (ETN) traded up 1.74% during mid-day trading on Wednesday, hitting $48.48. Eaton Corp. (ETN) has a 52 week low of $33.09 and a 52 week high of $53.06. The company has a market cap of $16.367 billion and a P/E ratio of 11.42.
Eaton Corp. last announced its earnings results on Monday, July 23rd. The company reported $1.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.09 by $0.06. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts predict that Eaton Corp. (ETN) will post $4.32 earnings per share for the current fiscal year.
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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