Here's Why Manulife Financial (MFC) is a Strong Momentum 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.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Manulife Financial (MFC)
Headquartered in Toronto, Canada, Manulife Financial Corporation was founded in 1887. Manulife is one of the three dominant life insurers within its domestic Canadian market and possesses rapidly growing operations in the U.S. and several Asian countries. Manulife reports earnings through six divisions and has five major operating divisions – Asia, Canada, U.S. Insurance and U.S. Wealth Management, and Corporate.
MFC boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of Manulife Financial has seen some interesting price action recently; the stock is down 0.6% over the past one week and up 7.7% over the past four weeks. And in the last one-year period, MFC has gained 27.2%. As for the stock's trading volume, 3,866,121.25 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For MFC, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.06 to $2.71 per share for 2024. MFC boasts an average earnings surprise of 7%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding MFC to their portfolios.
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Manulife Financial Corp (MFC) : Free Stock Analysis Report