Why Eaton (ETN) is a Top Growth Stock for the Long-Term
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.
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 Growth Style Score of B and VGM Score of B. Earnings are expected to grow 12.4% year-over-year for the current fiscal year, with sales growth of 7.5%.
Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.24 to $10.25 per share. ETN boasts an average earnings surprise of 4.8%.
On a historic basis, Eaton has generated cash flow growth of 7.1%, and is expected to report cash flow expansion of 15% this year.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, ETN should be on investors' short lists.
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Eaton Corporation, PLC (ETN) : Free Stock Analysis Report
