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Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio

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·2 min read
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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

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.

Nucor (NUE)

Headquartered in Charlotte, NC, Nucor Corporation is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the United States. It also produces direct reduced iron (“DRI”) that is used in its steel mills. The company has 123 operating facilities, primarily in the United States and Canada. Also, most of its operating facilities and customers are located in North America.

NUE is a Zacks Rank #1 (Strong Buy) stock, with a Growth Style Score of A and VGM Score of A. Earnings are expected to grow 13.2% year-over-year for the current fiscal year, with sales growth of 18.5%.

Three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $6.38 to $26.22 per share for 2022. NUE boasts an average earnings surprise of 2.2%.

Looking at cash flow, Nucor is expected to report cash flow growth of 326.4% this year; NUE has generated cash flow growth of 38.7% over the past three to five years.

Investors should take the time to consider NUE for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.


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