On Monday, Shares of Eaton Corporation plc (NYSE: ETN) showed the bearish trend with a lower momentum of -0.93% to $77.64. The company traded total volume of 1.310M shares as contrast to its average volume of 2.05M shares. The company has a market value of $33.24B and about 428.07M shares outstanding.
Eaton Corp. PLC (ETN) stated first-quarter earnings of $522.0M. The Dublin-based company said it had net income of $1.23 per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.26 per share. The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.
The power management company posted revenue of $5.31B in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $5.40B. For the current quarter ending in July, Eaton anticipates its per-share earnings to range from $1.45 to $1.55. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.51. The company anticipates full-year earnings in the range of $5.72 to $6.02 per share.
The Company offered net profit margin of 10.10% while its gross profit margin was 33.00%. ROE was recorded as 13.20% while beta factor was 1.44. The stock, as of recent close, has shown the weekly downbeat performance of -2.12% which was maintained at 13.08% in this year.
Janet Harrison has over 16 years experience in the financial services industry giving her a vast understanding of how news affects the financial markets, and an early adopter of blockchain technology and digital currencies.
Janet is an active holder and trader spending the majority of her time analyzing blockchain projects, reports and watching new and upcoming projects and other initiatives in the industry. She has a Masters Degree in Economics with previous roles counting Investment Banking.