ETN Cuts Forecast – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/16419/ETN+Cuts+Forecast+-+Zacks+Tale+of+the+TapePosted on Tuesday, December 16th, 2008 | In Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Eaton Corp. (ETN) cut its fourth-quarter earnings estimate as the Cleveland-based industrial manufacturer battles deteriorating economic conditions.
For the fourth quarter, Eaton is looking for a profit in the range of $1.00 and $1.10, excluding certain costs. In October, the company had expected earnings between $1.70 and $1.80.
Analysts expect Eaton to earn a profit of 1.71 in the current quarter.
The company now projects earnings of $6.75 to $6.85 a share for the full year, while analysts see profit of $7.46.
Eaton is currently a Zacks #3 Rank (”Hold”) company.
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