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Eaton (ETN) Advances While Market Declines: Some Information for Investors
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The latest trading session saw Eaton (ETN - Free Report) ending at $245.89, denoting a +0.03% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.07%. On the other hand, the Dow registered a gain of 0.16%, and the technology-centric Nasdaq decreased by 0.36%.
Heading into today, shares of the power management company had gained 2.11% over the past month, outpacing the Industrial Products sector's loss of 0.09% and lagging the S&P 500's gain of 3.05% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Eaton in its upcoming earnings disclosure. The company's earnings report is set to go public on February 1, 2024. The company is expected to report EPS of $2.47, up 19.9% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $5.89 billion, indicating a 9.48% increase compared to the same quarter of the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Eaton. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.24% higher. Eaton presently features a Zacks Rank of #2 (Buy).
Digging into valuation, Eaton currently has a Forward P/E ratio of 24.58. Its industry sports an average Forward P/E of 20.51, so one might conclude that Eaton is trading at a premium comparatively.
It's also important to note that ETN currently trades at a PEG ratio of 2.09. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Manufacturing - Electronics was holding an average PEG ratio of 1.89 at yesterday's closing price.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 10, putting it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Eaton (ETN) Advances While Market Declines: Some Information for Investors
The latest trading session saw Eaton (ETN - Free Report) ending at $245.89, denoting a +0.03% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.07%. On the other hand, the Dow registered a gain of 0.16%, and the technology-centric Nasdaq decreased by 0.36%.
Heading into today, shares of the power management company had gained 2.11% over the past month, outpacing the Industrial Products sector's loss of 0.09% and lagging the S&P 500's gain of 3.05% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Eaton in its upcoming earnings disclosure. The company's earnings report is set to go public on February 1, 2024. The company is expected to report EPS of $2.47, up 19.9% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $5.89 billion, indicating a 9.48% increase compared to the same quarter of the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Eaton. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.24% higher. Eaton presently features a Zacks Rank of #2 (Buy).
Digging into valuation, Eaton currently has a Forward P/E ratio of 24.58. Its industry sports an average Forward P/E of 20.51, so one might conclude that Eaton is trading at a premium comparatively.
It's also important to note that ETN currently trades at a PEG ratio of 2.09. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Manufacturing - Electronics was holding an average PEG ratio of 1.89 at yesterday's closing price.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 10, putting it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.