For its first fiscal quarter (ending March 31), Eaton Corp Plc (NYSE: ETN) has reported a 28% increase in E.P.S. from $1.60 a year ago to $2.05 in the current quarter. However, this result fell short of the consensus estimate of $2.62 by $-0.57. For the latest four quarters through March 31, E.P.S. were $8.51 compared to $6.44 a year ago — an increase of 32%.
Recent Price Action
Eaton Corp Plc (NYSE: ETN) stock closed at $318.26 on 4/30/24 after a decline of -2.5%. Moreover, trading volume in this decline was exceptionally high at 234% of normal. The stock has risen 3.3% during the last week and has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
ETN is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Eaton has a current Value Trend Rating of C (Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Eaton has a poor Appreciation Score of 20 but a very high Power Rating of 89, leading to the Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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