Are You a Growth Investor? This 1 Stock Could Be the Perfect Pick
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.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
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.
Years of investment in digital, cloud and security strategy has helped Accenture evolve as a trusted and viable consulting services provider. It is currently the world’s top consultancy firm by revenues that increased 14% in 2021 with a contribution of 54% from consulting services.
ACN is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of B and VGM Score of B. Earnings are expected to grow 7% year-over-year for the current fiscal year, with sales growth of 4.4%.
Nine analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.12 to $11.46 per share for 2023. ACN boasts an average earnings surprise of 3.2%.
Accenture is also cash rich. The company has generated cash flow growth of 14.5%, and is expected to report cash flow expansion of 17.2% in 2023.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, ACN should be on investors' short lists.
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
Accenture PLC (ACN) : Free Stock Analysis Report
To read this article on Zacks.com click here.