Eaton Co. PLC (ETN) Expected to Announce Quarterly Sales of $5.49 Billion
Analysts expect Eaton Co. PLC (NYSE:ETN) to report sales of $5.49 billion for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Eaton’s earnings, with the highest sales estimate coming in at $5.57 billion and the lowest estimate coming in at $5.45 billion. Eaton reported sales of $5.21 billion in the same quarter last year, which indicates a positive year over year growth rate of 5.4%. The firm is expected to issue its next earnings report before the market opens on Tuesday, October 30th.
According to Zacks, analysts expect that Eaton will report full year sales of $21.70 billion for the current fiscal year, with estimates ranging from $21.59 billion to $21.85 billion. For the next year, analysts anticipate that the firm will report sales of $22.62 billion, with estimates ranging from $22.18 billion to $23.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Eaton.
Eaton (NYSE:ETN) last announced its earnings results on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same period last year, the company posted $1.15 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year.
In other news, Director Deborah L. Mccoy sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $84.55, for a total transaction of $253,650.00. Following the completion of the transaction, the director now directly owns 32,936 shares in the company, valued at approximately $2,784,738.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ken D. Semelsberger sold 11,500 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $86.57, for a total value of $995,555.00. Following the transaction, the insider now owns 78,883 shares of the company’s stock, valued at $6,828,901.31. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,000 shares of company stock valued at $4,617,645. Corporate insiders own 0.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of ETN. CIBC World Markets Inc. grew its position in shares of Eaton by 265.2% during the 1st quarter. CIBC World Markets Inc. now owns 20,690 shares of the industrial products company’s stock worth $1,653,000 after buying an additional 15,024 shares during the period. Summit Trail Advisors LLC grew its position in shares of Eaton by 7,757.2% during the 1st quarter. Summit Trail Advisors LLC now owns 166,180 shares of the industrial products company’s stock worth $166,000 after buying an additional 164,065 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Eaton by 4.7% during the 1st quarter. Allianz Asset Management GmbH now owns 2,005,237 shares of the industrial products company’s stock valued at $160,238,000 after purchasing an additional 89,950 shares in the last quarter. Suntrust Banks Inc. lifted its holdings in shares of Eaton by 8.4% during the 1st quarter. Suntrust Banks Inc. now owns 206,931 shares of the industrial products company’s stock valued at $16,535,000 after purchasing an additional 16,057 shares in the last quarter. Finally, WealthTrust Fairport LLC bought a new position in shares of Eaton during the 1st quarter valued at about $195,000. Institutional investors own 77.80% of the company’s stock.
Shares of NYSE:ETN traded down $0.19 during midday trading on Friday, reaching $72.01. The company’s stock had a trading volume of 4,471,557 shares, compared to its average volume of 2,803,254. Eaton has a fifty-two week low of $70.20 and a fifty-two week high of $89.85. The firm has a market cap of $31.20 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.31 and a beta of 1.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.96 and a current ratio of 1.47.
The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $2.64 dividend on an annualized basis and a yield of 3.67%. Eaton’s payout ratio is 56.77%.
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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