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Eaton (ETN) Outpaces Stock Market Gains: What You Should Know
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Eaton (ETN - Free Report) ended the recent trading session at $294.56, demonstrating a +1.35% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 1.08%. Elsewhere, the Dow saw an upswing of 0.92%, while the tech-heavy Nasdaq appreciated by 1.41%.
Prior to today's trading, shares of the power management company had lost 7.18% over the past month. This has lagged the Industrial Products sector's loss of 6.99% and was narrower than the S&P 500's loss of 8.26% 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 is forecasted to report an EPS of $2.70, showcasing a 12.5% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $6.27 billion, up 5.43% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $12.03 per share and a revenue of $26.74 billion, demonstrating changes of +11.39% and +7.48%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Eaton. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.08% upward. Eaton presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Eaton is at present trading with a Forward P/E ratio of 24.16. This valuation marks a premium compared to its industry's average Forward P/E of 23.66.
We can also see that ETN currently has a PEG ratio of 2.34. 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 currently had an average PEG ratio of 1.9 as of yesterday's close.
The Manufacturing - Electronics industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 35, placing it within the top 14% of over 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Eaton (ETN) Outpaces Stock Market Gains: What You Should Know
Eaton (ETN - Free Report) ended the recent trading session at $294.56, demonstrating a +1.35% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 1.08%. Elsewhere, the Dow saw an upswing of 0.92%, while the tech-heavy Nasdaq appreciated by 1.41%.
Prior to today's trading, shares of the power management company had lost 7.18% over the past month. This has lagged the Industrial Products sector's loss of 6.99% and was narrower than the S&P 500's loss of 8.26% 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 is forecasted to report an EPS of $2.70, showcasing a 12.5% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $6.27 billion, up 5.43% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $12.03 per share and a revenue of $26.74 billion, demonstrating changes of +11.39% and +7.48%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Eaton. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.08% upward. Eaton presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Eaton is at present trading with a Forward P/E ratio of 24.16. This valuation marks a premium compared to its industry's average Forward P/E of 23.66.
We can also see that ETN currently has a PEG ratio of 2.34. 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 currently had an average PEG ratio of 1.9 as of yesterday's close.
The Manufacturing - Electronics industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 35, placing it within the top 14% of over 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.