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Eaton (ETN) Stock Sinks As Market Gains: What You Should Know
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Eaton (ETN - Free Report) closed the most recent trading day at $313.94, moving -0.42% from the previous trading session. This change lagged the S&P 500's daily gain of 0.09%. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.3%.
Heading into today, shares of the power management company had lost 5.29% over the past month, lagging the Industrial Products sector's loss of 4.75% and the S&P 500's gain of 3.38% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Eaton in its upcoming earnings disclosure. On that day, Eaton is projected to report earnings of $2.61 per share, which would represent year-over-year growth of 18.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.35 billion, up 8.2% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $10.56 per share and a revenue of $25.15 billion, demonstrating changes of +15.79% and +8.44%, respectively, from the preceding year.
Any recent changes to analyst estimates for Eaton should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
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, there's been no change in the Zacks Consensus EPS estimate. Eaton is holding a Zacks Rank of #2 (Buy) right now.
With respect to valuation, Eaton is currently being traded at a Forward P/E ratio of 29.86. This expresses a premium compared to the average Forward P/E of 22.27 of its industry.
Meanwhile, ETN's PEG ratio is currently 2.64. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Manufacturing - Electronics industry was having an average PEG ratio of 1.87.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 21, which puts it in the top 9% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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.
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Eaton (ETN) Stock Sinks As Market Gains: What You Should Know
Eaton (ETN - Free Report) closed the most recent trading day at $313.94, moving -0.42% from the previous trading session. This change lagged the S&P 500's daily gain of 0.09%. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.3%.
Heading into today, shares of the power management company had lost 5.29% over the past month, lagging the Industrial Products sector's loss of 4.75% and the S&P 500's gain of 3.38% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Eaton in its upcoming earnings disclosure. On that day, Eaton is projected to report earnings of $2.61 per share, which would represent year-over-year growth of 18.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.35 billion, up 8.2% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $10.56 per share and a revenue of $25.15 billion, demonstrating changes of +15.79% and +8.44%, respectively, from the preceding year.
Any recent changes to analyst estimates for Eaton should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
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, there's been no change in the Zacks Consensus EPS estimate. Eaton is holding a Zacks Rank of #2 (Buy) right now.
With respect to valuation, Eaton is currently being traded at a Forward P/E ratio of 29.86. This expresses a premium compared to the average Forward P/E of 22.27 of its industry.
Meanwhile, ETN's PEG ratio is currently 2.64. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Manufacturing - Electronics industry was having an average PEG ratio of 1.87.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 21, which puts it in the top 9% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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.