Here's Why Eaton (ETN) is a Strong Growth Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why This 1 Growth Stock Should Be On Your Watchlist
Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
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 92,000 employees. The company was founded in 1916.
ETN sits at a Zacks Rank #2 (Buy), holds a Growth Style Score of B, and has a VGM Score of B. Earnings and sales are forecasted to increase 19.2% and 11.4% year-over-year, respectively.
Eight analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.21 to $9.02 per share. ETN also boasts an average earnings surprise of 4.2%.
Eaton is also cash rich. The company has generated cash flow growth of 5.9%, and is expected to report cash flow expansion of 11.3% in 2023.
Investors should take the time to consider ETN for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.
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 Report
