Eaton Corporation plc (NYSE: ETN)’s stock price has gone rise by 1.67 in comparison to its previous close of 303.02, however, the company has experienced a -2.28% decrease in its stock price over the last five trading days. Business Wire reported 2024-04-19 that DUBLIN–(BUSINESS WIRE)–Intelligent power management company Eaton (NYSE:ETN) will announce first quarter 2024 earnings on Tuesday, April 30, 2024, before the opening of the New York Stock Exchange. The company will host a conference call at 11 a.m. Eastern time that day to discuss first quarter 2024 earnings results with securities analysts and institutional investors. The conference call will be available through a live webcast that can be accessed via the Eaton First Quarter 2024 Earnings R.
Is It Worth Investing in Eaton Corporation plc (NYSE: ETN) Right Now?
The price-to-earnings ratio for Eaton Corporation plc (NYSE: ETN) is above average at 38.40x. The 36-month beta value for ETN is also noteworthy at 1.07. There are mixed opinions on the stock, with 4 analysts rating it as a “buy,” 3 rating it as “overweight,” 15 rating it as “hold,” and 2 rating it as “sell.”
The public float for ETN is 398.43M, and at present, short sellers hold a 0.91% of that float. The average trading volume of ETN on April 23, 2024 was 2.02M shares.
ETN’s Market Performance
ETN stock saw a decrease of -2.28% in the past week, with a monthly decline of -2.35% and a quarterly a decrease of 26.32%. The volatility ratio for the week is 2.61%, and the volatility levels for the last 30 days are 2.18% for Eaton Corporation plc (ETN). The simple moving average for the past 20 days is -2.33% for ETN’s stock, with a 27.03% simple moving average for the past 200 days.
Analysts’ Opinion of ETN
RBC Capital Mkts, on the other hand, stated in their research note that they expect to see ETN reach a price target of $371, previously predicting the price at $286. The rating they have provided for ETN stocks is “Outperform” according to the report published on April 05th, 2024.
Barclays gave a rating of “Equal Weight” to ETN, setting the target price at $300 in the report published on April 02nd of the current year.
ETN Trading at 2.73% from the 50-Day Moving Average
After a stumble in the market that brought ETN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -7.05% of loss for the given period.
Volatility was left at 2.18%, however, over the last 30 days, the volatility rate increased by 2.61%, as shares sank -2.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.77% upper at present.
During the last 5 trading sessions, ETN fell by -2.28%, which changed the moving average for the period of 200-days by +55.80% in comparison to the 20-day moving average, which settled at $315.01. In addition, Eaton Corporation plc saw 27.93% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ETN starting from Monesmith Heath B., who sale 13,027 shares at the price of $291.40 back on Mar 11 ’24. After this action, Monesmith Heath B. now owns 69,472 shares of Eaton Corporation plc, valued at $3,796,031 using the latest closing price.
Szmagala Taras G. Jr., the below. of Eaton Corporation plc, sale 8,157 shares at $293.08 during a trade that took place back on Mar 01 ’24, which means that Szmagala Taras G. Jr. is holding 7,866 shares at $2,390,625 based on the most recent closing price.
Stock Fundamentals for ETN
Current profitability levels for the company are sitting at:
- 0.17 for the present operating margin
- 0.37 for the gross margin
The net margin for Eaton Corporation plc stands at 0.14. The total capital return value is set at 0.13. Equity return is now at value 17.85, with 8.77 for asset returns.
Based on Eaton Corporation plc (ETN), the company’s capital structure generated 0.33 points at debt to capital in total, while cash flow to debt ratio is standing at 0.39. The debt to equity ratio resting at 0.49. The interest coverage ratio of the stock is 25.42.
Currently, EBITDA for the company is 4.92 billion with net debt to EBITDA at 2.39. When we switch over and look at the enterprise to sales, we see a ratio of 5.72. The receivables turnover for the company is 4.87for trailing twelve months and the total asset turnover is 0.6. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.51.
Conclusion
In summary, Eaton Corporation plc (ETN) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
