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STOCKS TRADE HIGHER; DISNEY SINKS AFTER EARNINGS

Apple reportedly designing its own AI chips for data centres

Why Avangrid (AGR) is a Top Growth Stock for the Long-Term

Zacks Equity Research
·2 min read

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

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

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.

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Avangrid (AGR)

The merger of Iberdrola U.S.A with The UIL Holdings Corporation in December 2015, lead to the formation of AVANGRID. Iberdrola owns 81.6% of the outstanding shares of AVANGRID. AVANGRID is headquartered in Orange, CT, with operations in 24 U.S. states. It is the third largest solar and wind generator in the United Stateswith $40 billion ofassets. The company operates via two primary businesses, namely Avangrid Networks and Avangrid Renewables.

AGR 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 4.1% year-over-year for 2022, while Wall Street anticipates its top line to improve by 5.4%.

Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2022, while the Zacks Consensus Estimate has increased $0.19 to $2.27 per share. AGR also boasts an average earnings surprise of 3.6%.

On a historic basis, Avangrid has generated cash flow growth of 3.3%, and is expected to report cash flow expansion of 7.7% this year.

AGR should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.


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Zacks Investment Research