Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors’ attention, and produce big gains as well. However, they can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.
One such company that might be well-positioned for future earnings growth is Equinor ASA (EQNR - Free Report) . This firm, which is in the Alternative Energy - Other industry, saw EPS growth of 24% last year, and is looking great for this year too.
In fact, the current growth estimate for this year calls for earnings-per-share growth of 18.4%. Furthermore, the long-term growth rate is currently an impressive 19.9%, suggesting pretty good prospects for the long haul.
Statoil ASA Price and Consensus
And if this wasn’t enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 8.7%. Thanks to this rise in earnings estimates, EQNR has a Zacks Rank #1 (Strong Buy) which further underscores the potential for outperformance in this company. You can see the complete list of today’s Zacks #1 Rank stocks here.
So, if you are looking for a fast-growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider EQNR. Not only does it have double-digit earnings growth prospects, but its impressive Zacks Rank suggests that analysts believe better days are ahead for EQNR as well.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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