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MARKETS LIVE BLOG:

STOCKS FALL BUT GAMESTOP SURGES ON REDDIT BET

ISM report shows further contraction in U.S. manufacturing activity

Here's Why H&R Block (HRB) is a Strong Momentum Stock

Zacks Equity Research
·2 min read

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.

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H&R Block (HRB)

H&R Block Inc. is a leading provider of tax preparation services. The company provides assisted income tax return preparation, do-it-yourself (DIY) tax solutions and other products and services associated with income tax return preparation in the United States, Canada and Australia.

HRB boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #2 (Buy) rating. Shares of H&R Block has seen some interesting price action recently; the stock is down 2.3% over the past one week and up 11.7% over the past four weeks. And in the last one-year period, HRB has gained 76.6%. As for the stock's trading volume, 1,364,415.75 shares on average were traded over the last 20 days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.04 to $4.29 per share. HRB boasts an average earnings surprise of 10.3%.

HRB should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

H&R Block, Inc. (HRB) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research