Eaton Reports Third Quarter Operating Earnings Per Share of $0.97, Down 25 Percent from Third Quarter of 2014 on Lower Revenue and Restructuring Charges
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Go back to Eaton Reports Third Quarter Operating Earnings Per Share of $0.97, Down 25 Percent from Third Quarter of 2014 on Lower Revenue and Restructuring Charges
November 2, 2015 10:26 AM EST
UBS reiterated a Buy rating and $65.00 price target on Eaton Corporation (NYSE: ETN) following the company's 3Q earnings results. Eaton reported 3Q15 EPS of $0.97 on a 3% organic decline. Management reduced 2015 EPS guidance to $4.20-$4.30 (vs. prior $4.40-$4.60). 4Q EPS guided to $1.05-$1.15.
Analyst Shannon... More
November 2, 2015 6:59 AM EST
Bernstein downgraded Eaton Corporation (NYSE: ETN) from Outperform to Market Perform with a price target of $59.00 (from $65.00).
For an analyst ratings summary and ratings history on Eaton Corporation click here. For more ratings news on Eaton Corporation click here.
Shares of Eaton Corporation closed at $55.91 yesterday.
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October 30, 2015 6:36 AM EDT
Eaton (NYSE: ETN) reported Q3 EPS of $0.97, $0.05 worse than the analyst estimate of $1.02. Revenue for the quarter came in at $5.2 billion versus the consensus estimate of $5.39 billion.
Alexander M. Cutler, Eaton chairman and chief executive officer, said, Our sales in the third quarter were approximately $300 million lower than we had expected at the start of the quarter, with organic sales lower by $240 million and negative currency translation reducing sales by $60 million.
The majority of our markets experienced weaker conditions in the quarter, which makes us cautious about the sales outlook looking... More
