We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Eaton (ETN) Falls More Steeply Than Broader Market: What Investors Need to Know
Read MoreHide Full Article
Eaton (ETN - Free Report) closed the most recent trading day at $375.46, moving -6.54% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 1.62%. On the other hand, the Dow registered a loss of 1.87%, and the technology-centric Nasdaq decreased by 1.98%.
The power management company's shares have seen an increase of 0.05% over the last month, not keeping up with the Industrial Products sector's gain of 0.72% and outstripping the S&P 500's loss of 0.03%.
Market participants will be closely following the financial results of Eaton in its upcoming release. The company's earnings per share (EPS) are projected to be $3.07, reflecting a 4.07% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $8 billion, indicating a 13.88% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.32 per share and a revenue of $31.64 billion, representing changes of +10.36% and +15.27%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Eaton. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.07% decrease. Eaton presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Eaton has a Forward P/E ratio of 30.15 right now. This signifies a premium in comparison to the average Forward P/E of 22.39 for its industry.
One should further note that ETN currently holds a PEG ratio of 2.58. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Manufacturing - Electronics industry had an average PEG ratio of 1.76 as trading concluded yesterday.
The Manufacturing - Electronics industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 90, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Eaton (ETN) Falls More Steeply Than Broader Market: What Investors Need to Know
Eaton (ETN - Free Report) closed the most recent trading day at $375.46, moving -6.54% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 1.62%. On the other hand, the Dow registered a loss of 1.87%, and the technology-centric Nasdaq decreased by 1.98%.
The power management company's shares have seen an increase of 0.05% over the last month, not keeping up with the Industrial Products sector's gain of 0.72% and outstripping the S&P 500's loss of 0.03%.
Market participants will be closely following the financial results of Eaton in its upcoming release. The company's earnings per share (EPS) are projected to be $3.07, reflecting a 4.07% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $8 billion, indicating a 13.88% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.32 per share and a revenue of $31.64 billion, representing changes of +10.36% and +15.27%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Eaton. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.07% decrease. Eaton presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Eaton has a Forward P/E ratio of 30.15 right now. This signifies a premium in comparison to the average Forward P/E of 22.39 for its industry.
One should further note that ETN currently holds a PEG ratio of 2.58. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Manufacturing - Electronics industry had an average PEG ratio of 1.76 as trading concluded yesterday.
The Manufacturing - Electronics industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 90, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.