Here's Why Manulife Financial (MFC) is a Strong Momentum Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
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 is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are down 0% over the past one week and up 7.4% over the past four weeks. MFC has gained 64.9% in the last one-year period as well. Looking at trading volume, an average of 1,910,084.38 shares exchanged hands over the last 20 trading days.
Momentum investors also pay close attention to a company's earnings. For MFC, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $2.73 per share for 2024. MFC boasts an average earnings surprise of 8%.
Investors should take the time to consider MFC for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Manulife Financial Corp (MFC) : Free Stock Analysis Report