Why Eaton Corporation, PLC (NYSE:ETN) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $67.00 on Eaton Corporation, PLC (NYSE:ETN) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $4.28 for the next fiscal and $N/A for underway quarter.

Valuation Estimates

Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Eaton Corporation, PLC (NYSE:ETN) stands at 15.69.

Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Eaton Corporation, PLC Ordinary, the PEG ratio for coming 3-5 years is 1.92.

Technical Analysis

The technical analysis highlights that Eaton Corporation, PLC Ordinary current is trading $-2.50 points away or -3.79% from its 50-day moving average of $66.07. Further it is trading $1.17 or +1.87% away its 200-day moving average of $62.40.

The 52-week high of Eaton Corporation, PLC (NYSE:ETN) was $68.20 while lowest point recorded in 52-week was $46.19. It implies if stock price makes a movement of over $-4.63, it will record a new 52-week high. In the case of +37.63% drop, it will touch a new 52-week low.

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