Yahoo Finance Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Golar LNG (GLNG)
Golar LNG Limited is a midstream LNG company based in Hamilton, Bermuda. The company is primarily involved in transportation and regasification of LNG and the liquefaction of natural gas. It focuses on acquisition, ownership, operation and chartering of LNG carriers and FSRUs (Floating Storage and Regasification unit). It is also involved in the development of LNG projects including the provision of FLNGs (Floating Liquefied Natural Gas) via its subsidiaries, affiliates and joint ventures. The company aims at delivering reliable, safe and cost-efficient LNG shipping and FSRU operations.
GLNG is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are up 2.7% over the past one week and up 1.2% over the past four weeks. GLNG has lost 16.7% in the last one-year period as well. Looking at trading volume, an average of 1,056,650.75 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2023, one analyst revised their earnings estimate higher in the last 60 days for GLNG, while the Zacks Consensus Estimate has increased $0.61 to $2.78 per share. GLNG also boasts an average earnings surprise of 34.8%.
Investors should take the time to consider GLNG for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Golar LNG Limited (GLNG) : Free Stock Analysis Report
