Eaton (NYSE:ETN) Issues Q4 2024 Earnings Guidance

Eaton (NYSE:ETN) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.780-2.840 for the period, compared to the consensus EPS estimate of 2.810. The company issued revenue guidance of -. Eaton also updated its FY 2024 guidance to 10.750-10.810 EPS.

Eaton Trading Down 0.8 %

NYSE:ETN opened at $342.81 on Thursday. The stock has a market capitalization of $136.47 billion, a price-to-earnings ratio of 37.71, a PEG ratio of 2.62 and a beta of 1.02. Eaton has a 1 year low of $198.68 and a 1 year high of $349.74. The stock has a fifty day moving average price of $321.71 and a two-hundred day moving average price of $318.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, sell-side analysts anticipate that Eaton will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. Eaton’s dividend payout ratio is presently 41.36%.

Analyst Ratings Changes

A number of brokerages have issued reports on ETN. Mizuho lifted their target price on shares of Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price target on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Royal Bank of Canada lowered their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Barclays increased their price target on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Citigroup assumed coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

Insider Activity at Eaton

In other news, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the acquisition, the director now owns 2,205 shares in the company, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 over the last ninety days. Insiders own 0.33% of the company’s stock.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.