Why National Oilwell (NOV) Could Be an Impressive Growth Stock

Zacks Equity Research

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 National Oilwell Varco, Inc. NOV. This firm, which is in the Oil and Gas - Mechanical and Equipment industry, saw EPS growth of 81% last year, and is looking great for this year too.

In fact, the current growth estimate for this year calls for significant earnings-per-share growth. Furthermore, the long-term growth rate is currently an impressive 15%, suggesting pretty good prospects for the long haul.

National Oilwell Varco, Inc. Price and Consensus

National Oilwell Varco, Inc. Price and Consensus
National Oilwell Varco, Inc. Price and Consensus

National Oilwell Varco, Inc. price-consensus-chart | National Oilwell Varco, Inc. Quote

And if this wasn’t enough, the stock has actually seen estimates significantly rise over the past month for the current fiscal year. Thanks to this rise in earnings estimates, NOV 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 NOV. Not only does it have double-digit earnings growth prospects, but its impressive Zacks Rank suggests that analysts believe better days are ahead for NOV as well.

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