Here's Why Atmos Energy (ATO) is a Strong Growth Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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.
Atmos Energy (ATO)
Founded in 1906, Atmos Energy Corporation, along with its subsidiaries, is engaged in regulated natural gas distribution and storage business. The company serves nearly 3.3 million customers in more than 1,400 communities in eight states from the Blue Ridge Mountains in the East to the Rocky Mountains in the West. The company operates more than 73,000 miles of transmission and distribution lines as well as 5,700 miles of interstate pipelines. Atmos Energy’s pipelines are connected to 37 different pipelines across eight states, thereby providing supplier diversity.
ATO boasts a Growth Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 6.4% year-over-year for 2024, while Wall Street anticipates its top line to improve by 24.5%.
Two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.03 to $6.49 per share for 2024. ATO boasts an average earnings surprise of 1.1%.
On a historic basis, Atmos Energy has generated cash flow growth of 12.9%, and is expected to report cash flow expansion of 13.2% this year.
Investors should take the time to consider ATO for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.
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Atmos Energy Corporation (ATO) : Free Stock Analysis Report
