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) Stock Falls Amid Market Uptick: What Investors Need to Know
Read MoreHide Full Article
In the latest trading session, Eaton (ETN - Free Report) closed at $369.69, marking a -0.41% move from the previous day. This change lagged the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.93%, and the Nasdaq, a tech-heavy index, added 0.22%.
Prior to today's trading, shares of the power management company had gained 8.69% over the past month. This has outpaced the Industrial Products sector's gain of 5.12% and the S&P 500's gain of 2.69% in that time.
Market participants will be closely following the financial results of Eaton in its upcoming release. The company plans to announce its earnings on January 31, 2025. It is anticipated that the company will report an EPS of $2.81, marking a 10.2% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $6.35 billion, indicating a 6.41% growth compared to the corresponding quarter of the prior year.
Any recent changes to analyst estimates for Eaton should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.54% lower. Eaton currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Eaton currently has a Forward P/E ratio of 30.77. This denotes a premium relative to the industry's average Forward P/E of 22.96.
It's also important to note that ETN currently trades at a PEG ratio of 2.57. 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 1.93 as trading concluded yesterday.
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 142, this industry ranks in the bottom 44% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Eaton (ETN) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, Eaton (ETN - Free Report) closed at $369.69, marking a -0.41% move from the previous day. This change lagged the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.93%, and the Nasdaq, a tech-heavy index, added 0.22%.
Prior to today's trading, shares of the power management company had gained 8.69% over the past month. This has outpaced the Industrial Products sector's gain of 5.12% and the S&P 500's gain of 2.69% in that time.
Market participants will be closely following the financial results of Eaton in its upcoming release. The company plans to announce its earnings on January 31, 2025. It is anticipated that the company will report an EPS of $2.81, marking a 10.2% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $6.35 billion, indicating a 6.41% growth compared to the corresponding quarter of the prior year.
Any recent changes to analyst estimates for Eaton should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.54% lower. Eaton currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Eaton currently has a Forward P/E ratio of 30.77. This denotes a premium relative to the industry's average Forward P/E of 22.96.
It's also important to note that ETN currently trades at a PEG ratio of 2.57. 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 1.93 as trading concluded yesterday.
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 142, this industry ranks in the bottom 44% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.