Here's Why Eaton (ETN) is a Strong Momentum Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Eaton (ETN)
Dublin, Ireland-based Eaton Corporation plc is a diversified power management company and a global technology leader in electrical components and systems. It sells products in more than 175 countries and has in excess of 85,000 employees. The company was founded in 1911.
ETN is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of A and VGM Score of B. Shares are up 0.1% over the past one week and up 7.3% over the past four weeks. ETN has gained 86% in the last one-year period as well. Looking at trading volume, an average of 1,831,980.63 shares exchanged hands over the last 20 trading days.
Momentum investors also pay close attention to a company's earnings. For ETN, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.24 to $10.25 per share for 2024. ETN boasts an average earnings surprise of 4.8%.
ETN should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Eaton Corporation, PLC (ETN) : Free Stock Analysis Report
