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.
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 boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of Eaton has seen some interesting price action recently; the stock is up 5.9% over the past one week and up 3.2% over the past four weeks. And in the last one-year period, ETN has gained 39.9%. As for the stock’s trading volume, 1,912,497 shares on average were traded over the last 20 days.
A company’s earnings performance is important for momentum investors as well. For fiscal 2024, seven analysts revised their earnings estimate higher in the last 60 days for ETN, while the Zacks Consensus Estimate has increased $0.21 to $10.74 per share. ETN also boasts an average earnings surprise of 4.7%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding ETN to their portfolios.
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Eaton Corporation, PLC (ETN) : Free Stock Analysis Report