The trading price of Eaton Corporation plc (NYSE:ETN) floating higher at last check on current market day and closing at $315.19, 1.11% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $313.55 and $318.19. The company’s P/E ratio in the trailing 12-month period was 34.67, while its 5Y monthly beta was 1.007. In examining the 52-week price action we see that the stock hit a 52-week high of $345.19 and a 52-week low of $191.82. Over the past month, the stock has gained 6.11% in value.
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Eaton Corporation plc, whose market valuation is $125.48 billion at the time of this writing, is expected to release its quarterly earnings report on 2024-Oct-29. The dividend yield on the company stock is 1.17%, while its Forward Dividend ratio is 3.68. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 2.8 per share this quarter, however they have predicted annual earnings per share of 10.66 for current year and 11.89 for next year.
Analysts have forecast the company to bring in revenue of 6.37B for the current quarter, with the likely lows of 6.3B and highs of 6.42B. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 25.12B.
On the technical side, indicators suggest ETN has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned ETN a recommendation rating is 13. Out of them, 3 rate it a Hold, while 9 recommend Buy, whereas 1 assign an Overweight rating. 0 analyst(s) have tagged Eaton Corporation plc (ETN) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 2.29, which symbolizes a positive outlook. A quick review shows that ETN’s price is currently 6.13% off the SMA20 and 4.91% off the SMA50. The RSI metric on the 14-day chart is currently showing 63.82, and weekly volatility stands at 2.90%. When measured over the past 30 days, the indicator reaches 2.59%. Eaton Corporation plc (NYSE:ETN)’s beta value is currently sitting at 1.01, while the Average True Range indicator is currently displaying 8.54. With analysts defining $145-$385 as the low and high price targets, we arrive at a consensus price target of $189.5 for the trailing 12-month period. The current price is about 54.0% off the estimated low and -22.15% off the forecast high, based on this estimate. Investors will be thrilled if ETN’s share price rises to $189.5, which is the median consensus price. At that level, ETN’s share price would be 39.88% above current price.
To see how Eaton Corporation plc stock has been performing today in comparison to its peers in the industry, here are the numbers: ETN stock’s performance was 1.11% at last check in today’s session, and 43.82% in the past year. Eaton Corporation plc has a P/E ratio of 34.67.
An evaluation of the daily trading volume of Eaton Corporation plc (NYSE:ETN) indicates that the 3-month average is 2.43 million. However, this figure has increased over the past 10 days to an average of 2.03.
Currently, records show that 399.40 million of the company’s shares remain outstanding. The insiders hold 0.24% of outstanding shares, whereas institutions hold 83.59%. The stats also highlight that short interest as of 2024-08-30, stood at 5.14 million shares, resulting in a short ratio of 1.86 at that time. From this, we can conclude that short interest is 129.00 of the company’s total outstanding shares. It is noteworthy that short shares in August were up slightly from the previous month’s figure, which was 4.6 million. However, since the stock’s price has seen 30.88% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
