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Eaton (ETN) Stock Moves -0.15%: What You Should Know
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Eaton (ETN - Free Report) ended the recent trading session at $331.87, demonstrating a -0.15% swing from the preceding day's closing price. This change was narrower than the S&P 500's 0.43% loss on the day. Elsewhere, the Dow saw a downswing of 0.07%, while the tech-heavy Nasdaq depreciated by 0.9%.
The power management company's stock has dropped by 10.7% in the past month, falling short of the Industrial Products sector's loss of 9.81% and the S&P 500's loss of 1.98%.
Market participants will be closely following the financial results of Eaton in its upcoming release. The company's upcoming EPS is projected at $2.82, signifying a 10.59% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $6.37 billion, indicating a 6.72% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $10.80 per share and revenue of $25.01 billion, which would represent changes of +18.42% and +7.8%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Eaton. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.01% higher within the past month. As of now, Eaton holds a Zacks Rank of #3 (Hold).
In terms of valuation, Eaton is presently being traded at a Forward P/E ratio of 30.78. For comparison, its industry has an average Forward P/E of 22.8, which means Eaton is trading at a premium to the group.
Investors should also note that ETN has a PEG ratio of 2.48 right now. 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 industry had an average PEG ratio of 2.08 as trading concluded yesterday.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 139, which puts it in the bottom 45% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Eaton (ETN) Stock Moves -0.15%: What You Should Know
Eaton (ETN - Free Report) ended the recent trading session at $331.87, demonstrating a -0.15% swing from the preceding day's closing price. This change was narrower than the S&P 500's 0.43% loss on the day. Elsewhere, the Dow saw a downswing of 0.07%, while the tech-heavy Nasdaq depreciated by 0.9%.
The power management company's stock has dropped by 10.7% in the past month, falling short of the Industrial Products sector's loss of 9.81% and the S&P 500's loss of 1.98%.
Market participants will be closely following the financial results of Eaton in its upcoming release. The company's upcoming EPS is projected at $2.82, signifying a 10.59% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $6.37 billion, indicating a 6.72% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $10.80 per share and revenue of $25.01 billion, which would represent changes of +18.42% and +7.8%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Eaton. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.01% higher within the past month. As of now, Eaton holds a Zacks Rank of #3 (Hold).
In terms of valuation, Eaton is presently being traded at a Forward P/E ratio of 30.78. For comparison, its industry has an average Forward P/E of 22.8, which means Eaton is trading at a premium to the group.
Investors should also note that ETN has a PEG ratio of 2.48 right now. 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 industry had an average PEG ratio of 2.08 as trading concluded yesterday.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 139, which puts it in the bottom 45% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.