Eaton Falls 1.95% as Investors Look Ahead to Results

Eaton shares fell 1.95% to $431.41 in the latest trading session, underperforming the S&P 500, which lost 0.77%. The Dow dropped 0.67%, and the Nasdaq fell 0.92%.

Despite the decline, Eaton gained 9.24% over the past month. That outpaced a 0.11% loss for the Industrial Products sector and a 0.96% rise in the S&P 500.

Investors are awaiting Eaton’s next financial results. Analysts expect quarterly earnings of $3.53 per share, up 14.98% from a year earlier, and revenue of $8.42 billion, a 20.52% increase, according to the estimates cited by Zacks.

For the full year, consensus estimates call for earnings of $13.56 per share and revenue of $32.66 billion. Those figures would represent increases of 12.34% and 18.98%, respectively, from the prior year.

Eaton’s forward price-to-earnings ratio stood at 32.45, compared with an industry average of 24.51, according to Zacks. The ratio compares a company’s share price with expected earnings.