Yahoo Finance Here's Why Lincoln Electric Holdings (LECO) is a Strong Growth Stock
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
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.
Lincoln Electric Holdings (LECO)
Headquartered in Cleveland, OH, Lincoln Electric has 56 manufacturing locations, including operations and joint ventures in 19 countries, and a worldwide network of distributors and sales offices covering more than 160 countries. Lincoln is a full-line manufacturer and reseller of welding and cutting products with products ranging from welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumables and fluxes to regulators and torches used in cutting.
LECO is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of B and VGM Score of B. Earnings are expected to grow 1.8% year-over-year for the current fiscal year, with sales growth of 2.2%.
Six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.19 to $9.58 per share for 2024. LECO boasts an average earnings surprise of 6.8%.
Lincoln Electric Holdings is also cash rich. The company has generated cash flow growth of 10.3%, and is expected to report cash flow expansion of 12.6% in 2024.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, LECO should be on investors' short lists.
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Lincoln Electric Holdings, Inc. (LECO) : Free Stock Analysis Report
