As of September 19, 2023, Eaton Corp’s short interest stands at 1.29% of its floating shares. Short interest refers to the number of shares that have been sold short without being covered or closed out yet. Short selling occurs when traders sell shares of a company that they do not own, hoping that the stock price will decrease. Traders profit from short selling if the stock price falls, but they face losses if it rises.
Monitoring short interest is crucial as it can serve as an indicator of market sentiment towards a specific stock. An increase in short interest suggests that investors have adopted a more bearish outlook, while a decrease indicates a more bullish sentiment. In the case of Eaton Corp, its short percent of float has risen by 22.58% since the last report, indicating an increase in the number of shares being shorted.
However, it is important to note that this does not necessarily imply an imminent decline in the stock’s value. Market dynamics are complex, and various factors can influence stock prices. Therefore, it is essential to consider additional information and conduct a comprehensive analysis before drawing any conclusions about the future performance of Eaton Corp’s stock.
Eaton Corporation plc
ETN
Strong Buy
Updated on: 28/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
ETN Stock Analysis: Positive Earnings Growth, Steady Revenue, and Promising Outlook
On September 19, 2023, ETN stock opened at $218.02 and had a trading range of $212.41 to $218.87. The volume for the day was 1,359,281 shares. The market capitalization of ETN stood at $86.8 billion. ETN experienced a positive earnings growth of 14.83% in the previous year and is expected to grow by 11.72% in the current year. The company has a projected earnings growth of 12.83% over the next five years. ETN’s revenue growth has been steady, with a growth rate of 5.73% in the last year. ETN has a price-to-earnings (P/E) ratio of 31.5, a price-to-sales ratio of 3.03, and a price-to-book ratio of 5.08. On September 19, 2023, the stock showed a minimal change of +0.02, representing a 0.07% increase. ETN operates in the electrical products sector within the producer manufacturing industry and has its corporate headquarters in Dublin, Ireland. Overall, ETN’s performance on this day reflects a steady and promising outlook for the company.
ETN Stock Shows Promising Performances on September 19, 2023: Potential Increase and Consensus Rating
ETN stock showed promising performances on September 19, 2023, according to data sourced from CNN Money. The 18 analysts who offered 12-month price forecasts for ETN stock had a median target of 239.50, with a high estimate of 270.00 and a low estimate of 185.00. This indicates a potential increase of 12.12% from the last recorded price of 213.61.
The current consensus among 24 investment analysts is to buy stock in Eaton Corporation PLC. This rating has remained steady since September.
Eaton Corporation PLC reported earnings per share of $2.24 for the current quarter and recorded sales of $5.8 billion. The reporting date for these figures is set for October 31.
These positive indicators suggest that ETN stock is performing well and is expected to continue its upward trajectory. Investors may find it advantageous to consider investing in Eaton Corporation PLC.
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