Eaton (ETN) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Eaton (ETN) closed the most recent trading day at $340.16, moving -0.4% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.04% for the day. Meanwhile, the Dow experienced a rise of 0.07%, and the technology-dominated Nasdaq saw a decrease of 0.05%.Coming into today, shares of the power management company had lost 8.18% in the past month. In that same time, the Industrial Products sector lost 8.42%, while the S&P 500 gained 1.05%.Analysts and investors alike will be keeping a close eye on the performance of Eaton in its upcoming earnings disclosure. The company is expected to report EPS of $2.82, up 10.59% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.37 billion, up 6.72% from the year-ago period.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $10.80 per share and a revenue of $25.01 billion, indicating changes of +18.42% and +7.8%, respectively, from the former year.It's also important for investors to be aware of any recent modifications to analyst estimates for Eaton. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.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 moved 0.01% higher. Eaton is holding a Zacks Rank of #3 (Hold) right now.From a valuation perspective, Eaton is currently exchanging hands at a Forward P/E ratio of 31.63. This represents a premium compared to its industry's average Forward P/E of 22.96.Investors should also note that ETN has a PEG ratio of 2.55 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. Manufacturing - Electronics stocks are, on average, holding a PEG ratio of 2.09 based on yesterday's closing prices.The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 78, putting it in the top 32% 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.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eaton Corporation, PLC (ETN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks