Eaton (ETN) Stock Moves -1.06%: What You Should Know

Eaton (ETN) closed the most recent trading day at $341.45, moving -1.06% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 1.54%. Elsewhere, the Dow lost 1.63%, while the tech-heavy Nasdaq lost 1.63%.Shares of the power management company have depreciated by 3.77% over the course of the past month, outperforming the Industrial Products sector's loss of 8.55% and lagging the S&P 500's loss of 2.2%.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. Simultaneously, our latest consensus estimate expects the revenue to be $6.37 billion, showing a 6.72% escalation compared to the year-ago quarter.Investors should also take note of any recent adjustments to analyst estimates for Eaton. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.08% decrease. At present, Eaton boasts a Zacks Rank of #3 (Hold).Looking at its valuation, Eaton is holding a Forward P/E ratio of 28.47. This denotes a premium relative to the industry's average Forward P/E of 21.17.Investors should also note that ETN has a PEG ratio of 2.29 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. The Manufacturing - Electronics industry had an average PEG ratio of 1.84 as trading concluded yesterday.The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 36, finds itself in the top 15% echelons of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>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