For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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.
Momentum investors, who live by the saying “the trend is your friend,” are most interested in taking advantage of upward or downward trends in a stock’s price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
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 #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 1.1% over the past one week and up 1.2% over the past four weeks. ETN has gained 59.8% in the last one-year period as well. Looking at trading volume, an average of 1,662,749.75 shares exchanged hands over the last 20 trading days.
Momentum investors don’t just pay attention to price changes; positive earnings play a crucial role, too. Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.05 to $10.80 per share. ETN boasts an average earnings surprise of 3.6%.
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