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.
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.
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 92,000 employees. The company was founded in 1916.
ETN sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is down 1.5% and up 1.4% over the past one-week and four-week period, respectively, and Eaton has gained 50.6% in the last one-year period as well. Additionally, an average of 1,001,416.69 shares were traded over the last 20 trading sessions.
A company’s earnings performance is important for momentum investors as well. For fiscal 2023, two analysts revised their earnings estimate higher in the last 60 days for ETN, while the Zacks Consensus Estimate has increased $0.01 to $9.03 per share. ETN also boasts an average earnings surprise of 4.2%.
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