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PSEG (PEG) is a Top-Ranked Growth Stock: Should You Buy?

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

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.

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PSEG (PEG)

Incorporated in 1985, Newark, NJ-based Public Service Enterprise Group Inc. (PEG) or PSEG is a diversified energy company, which consists primarily of a regulated electric and gas utility and a nuclear generation business. Its operations are mostly located in the Northeastern and Mid-Atlantic parts of the United States.

PEG is a Zacks Rank #2 (Buy) stock, with a Growth Style Score of B and VGM Score of B. Earnings are expected to grow 5.8% year-over-year for the current fiscal year, with sales growth of 17.8%.

Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.02 to $3.68 per share. PEG boasts an average earnings surprise of 7.3%.

On a historic basis, PSEG has generated cash flow growth of 0.8%, and is expected to report cash flow expansion of 0.8% this year.

With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, PEG should be on investors' short lists.

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Public Service Enterprise Group Incorporated (PEG) : Free Stock Analysis Report

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