Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors’ attention, and produce big gains as well. However, they can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.
One such company that might be well-positioned for future earnings growth is Freeport-McMoRan Inc. FCX. This firm, which is in the Mining – Non Ferrous industry, saw EPS growth of 2600% last year, and is looking great for this year too.
In fact, the current growth estimate for this year calls for earnings-per-share growth of 479.6%. Furthermore, the long-term growth rate is currently an impressive 28.7%, suggesting pretty good prospects for the long haul.
Freeport-McMoRan Inc. Price and Consensus
Freeport-McMoRan Inc. price-consensus-chart | Freeport-McMoRan Inc. Quote
And if this wasn’t enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 12.3%. Thanks to this rise in earnings estimates, FCX has a Zacks Rank #1 (Strong Buy) which further underscores the potential for outperformance in this company. You can see the complete list of today’s Zacks #1 Rank stocks here.
So if you are looking for a fast growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider FCX. Not only does it have double-digit earnings growth prospects, but its impressive Zacks Rank suggests that analysts believe better days are ahead for FCX as well.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>
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