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Can Parsley Energy (PE) Stock Continue to Grow Earnings?

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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 Parsley Energy, Inc. (PE - Free Report) .  This firm, which is in the Oil and Gas - Exploration and Production - United States industry, saw a significant EPS growth last year, and is looking great for this year too.

In fact, the current growth estimate for this year also calls for significant earnings-per-share growth. Furthermore, the long-term growth rate is currently an impressive 29.6%, suggesting pretty good prospects for the long haul.

Parsley Energy, Inc. 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 23.6%. Thanks to this rise in earnings estimates, PE has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) 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 PE. Not only does it have double-digit earnings growth prospects, but its impressive Zacks Rank suggests that analysts believe better days are ahead for PE as well.

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