Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Why This 1 Growth Stock Should Be On Your Watchlist
For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.
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 boasts a Growth Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 8.9% year-over-year for 2023, while Wall Street anticipates its top line to improve by 6.8%.
Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.05 to $8.24 per share. ETN boasts an average earnings surprise of 1.4%.
On a historic basis, Eaton has generated cash flow growth of 5.9%, and is expected to report cash flow expansion of 11.3% this year.
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
To read this article on Zacks.com click here.