Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
PSEG (PEG)
Incorporated in 1985, Newark, NJ-based Public Service Enterprise Group Inc. (PEG) or PSEG is a diversified energy company, which consists primarily of a regulated electric and gas utility and a nuclear generation business. Its operations are mostly located in the Northeastern and Mid-Atlantic parts of the United States.
PEG is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of B and VGM Score of B. Earnings are expected to grow 5.8% year-over-year for the current fiscal year, with sales growth of 15%.
Five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.02 to $3.68 per share for 2024. PEG boasts an average earnings surprise of 7.3%.
PSEG is also cash rich. The company has generated cash flow growth of 0.8%, and is expected to report cash flow expansion of 0.8% in 2024.
PEG should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.
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Public Service Enterprise Group Incorporated (PEG) : Free Stock Analysis Report