We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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) Rises As Market Takes a Dip: Key Facts
Read MoreHide Full Article
In the latest trading session, Eaton (ETN - Free Report) closed at $196.55, marking a +0.68% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.18%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 1.76%.
Prior to today's trading, shares of the power management company had lost 8.92% over the past month. This has lagged the Industrial Products sector's loss of 6.04% and the S&P 500's loss of 3.35% 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 October 31, 2023. The company's upcoming EPS is projected at $2.34, signifying a 15.84% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $5.89 billion, indicating a 10.93% upward movement from the same quarter last year.
ETN's full-year Zacks Consensus Estimates are calling for earnings of $8.81 per share and revenue of $23.09 billion. These results would represent year-over-year changes of +16.38% and +11.29%, respectively.
Any recent changes to analyst estimates for Eaton should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.04% increase. Eaton is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Eaton is presently being traded at a Forward P/E ratio of 22.16. This represents a premium compared to its industry's average Forward P/E of 18.57.
Meanwhile, ETN's PEG ratio is currently 1.95. 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 currently had an average PEG ratio of 1.93 as of yesterday's close.
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 160, this industry ranks in the bottom 37% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Eaton (ETN) Rises As Market Takes a Dip: Key Facts
In the latest trading session, Eaton (ETN - Free Report) closed at $196.55, marking a +0.68% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.18%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 1.76%.
Prior to today's trading, shares of the power management company had lost 8.92% over the past month. This has lagged the Industrial Products sector's loss of 6.04% and the S&P 500's loss of 3.35% 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 October 31, 2023. The company's upcoming EPS is projected at $2.34, signifying a 15.84% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $5.89 billion, indicating a 10.93% upward movement from the same quarter last year.
ETN's full-year Zacks Consensus Estimates are calling for earnings of $8.81 per share and revenue of $23.09 billion. These results would represent year-over-year changes of +16.38% and +11.29%, respectively.
Any recent changes to analyst estimates for Eaton should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.04% increase. Eaton is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Eaton is presently being traded at a Forward P/E ratio of 22.16. This represents a premium compared to its industry's average Forward P/E of 18.57.
Meanwhile, ETN's PEG ratio is currently 1.95. 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 currently had an average PEG ratio of 1.93 as of yesterday's close.
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 160, this industry ranks in the bottom 37% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.