This Top Finance Stock is a #1 (Strong Buy): Why It Should Be on Your Radar
Building a successful investment portfolio takes skill and hard work, no matter if you're a growth, value, income, or momentum-focused investor.
Should You Buy #1 (Strong Buy)-Ranked Palomar (PLMR) for Your Portfolio?
Palomar was upgraded to the Zacks Rank #1 list on August 31, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Headquartered in La Jolla, CA, Palomar Holdings, Inc. formerly known as GC Palomar Holdings (GCPH), was officially founded in 2014 by acquiring Palomar Specialty Insurance Company (PSIC) from Pacific Indemnity Company in a stock purchase transaction. Palomar Holdings is an insurance holding company that was incorporated in Delaware in March 2019.
Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.18 to $4.83 per share. PLMR boasts an average earnings surprise of 17.1%.
Earnings are forecasted to see growth of 30.9% for the current fiscal year, and sales are expected to increase 41.5%.
Even more impressive, PLMR has gained in value over the past four weeks, up 10.2% compared to the S&P 500's gain of 4%.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Palomar could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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