NEW YORK (TheStreet) -- Eaton (ETN) - Get Report shares are down by 2.52% to $59.94 in early market trading on Wednesday morning, following the release of the company's 2015 second quarter earnings results.
The power management company reported second quarter earnings of $1.16 per share, topping analyst estimates of $1.13 per share by three cents.
Revenue for the period fell by 6.8% to $5.37 billion however, missing analysts' $5.5 billion consensus estimates.
For the current quarter the company issued earnings guidance between $1 and $1.10 per share, short of analysts' $1.30 per share forecasts.
For the the year, the company sees earnings between $4.40 and $4.60 per share, also below analysts' $4.74 per share expectations.
Separately, TheStreet Ratings team rates EATON CORP PLC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate EATON CORP PLC (ETN) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations, expanding profit margins, growth in earnings per share and increase in net income. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."