Canada markets closed

  • S&P/TSX

    19,791.62
    -423.07 (-2.09%)
     

  • S&P 500

    4,330.00
    -72.20 (-1.64%)
     

  • DOW

    34,070.42
    -370.46 (-1.08%)
     

  • CAD/USD

    0.7424
    +0.0005 (+0.06%)
     

  • CRUDE OIL

    90.13
    +0.50 (+0.56%)
     

  • Bitcoin CAD

    35,802.59
    -517.67 (-1.43%)
     

  • CMC Crypto 200

    566.60
    -9.65 (-1.68%)
     

  • GOLD FUTURES

    1,944.70
    +5.10 (+0.26%)
     

  • RUSSELL 2000

    1,781.83
    -28.28 (-1.56%)
     

  • 10-Yr Bond

    4.4800
    +0.1310 (+3.01%)
     

  • NASDAQ futures

    14,886.00
    +23.25 (+0.16%)
     

  • VOLATILITY

    17.54
    +2.40 (+15.85%)
     

  • FTSE

    7,678.62
    -53.03 (-0.69%)
     

  • NIKKEI 225

    32,268.04
    -302.99 (-0.93%)
     

  • CAD/EUR

    0.6970
    +0.0013 (+0.19%)
     

Here's Why Hershey (HSY) is a Strong Growth Stock

Zacks Equity Research
·2 min read

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

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

For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

Hershey (HSY)

Founded in 1894 and based in Hershey, PA, The Hershey Company (HSY), is the largest chocolate manufacturer in North America as well as a global leader in chocolate and non-chocolate confectionery. In addition, Hershey manufactures pantry items like baking ingredients, toppings and beverages; and gum and mint refreshment products; snack bites and mixes, as well as spreads.

HSY is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of A and VGM Score of B. Earnings are expected to grow 11.4% year-over-year for the current fiscal year, with sales growth of 8.4%.

Eight analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.12 to $9.49 per share. HSY also boasts an average earnings surprise of 8.9%.

On a historic basis, Hershey has generated cash flow growth of 7.5%, and is expected to report cash flow expansion of 18.3% this year.

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

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

Hershey Company (The) (HSY) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research