Eaton (NYSE: ETN) is expected to report Q3 earnings on Oct. 31. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Eaton's revenues will grow 2.3% and EPS will grow 1.9%.

The average estimate for revenue is $4.22 billion. On the bottom line, the average EPS estimate is $1.10.

Revenue details
Last quarter, Eaton notched revenue of $4.07 billion. GAAP reported sales were 0.5% lower than the prior-year quarter's $4.09 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $1.15. GAAP EPS of $1.12 for Q2 were 15% higher than the prior-year quarter's $0.97 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 30.8%, 80 basis points better than the prior-year quarter. Operating margin was 11.2%, 90 basis points better than the prior-year quarter. Net margin was 9.4%, 120 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $16.43 billion. The average EPS estimate is $4.29.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 866 members out of 887 rating the stock outperform, and 21 members rating it underperform. Among 259 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 258 give Eaton a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Eaton is outperform, with an average price target of $55.50.

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