Why Baker Hughes (BKR) is a Top Growth Stock for the Long-Term
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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
Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Baker Hughes (BKR)
Based in Houston, TX, Baker Hughes Company is one of the world’s largest oilfield service providers. The integrated oilfield products and digital solutions of Baker Hughes help customers efficiently and cost-effectively refine and transport hydrocarbons with low environmental concerns. Moreover, with growing demand for clean energy and the need to curb greenhouse gas emissions, countries around the world are investing in LNG terminals. This has given Baker Hughes the opportunity to expand its reach beyond oilfields in order to capitalize on contracts for manufacturing equipment that is being used in LNG facilities.
BKR is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of B and VGM Score of A. Earnings are expected to grow 40.6% year-over-year for the current fiscal year, with sales growth of 9.9%.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.05 to $2.25 per share. BKR boasts an average earnings surprise of 10%.
On a historic basis, Baker Hughes has generated cash flow growth of 8.9%, and is expected to report cash flow expansion of 37.9% this year.
Investors should take the time to consider BKR for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Baker Hughes Company (BKR) : Free Stock Analysis Report