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.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
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.
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 boasts a Growth Style Score of B and VGM Score of A, and holds a Zacks Rank #2 (Buy) rating. Its bottom-line is projected to rise 30.6% year-over-year for 2024, while Wall Street anticipates its top line to improve by 8%.
Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0 to $2.09 per share. BKR boasts an average earnings surprise of 11.4%.
Looking at cash flow, Baker Hughes is expected to report cash flow growth of 37.9% this year; BKR has generated cash flow growth of 8.9% over the past three to five years.
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
