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Here's Why Everest Group (EG) is a Strong Momentum Stock

Zacks Equity Research
·2 min read

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?

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.

Everest Group (EG)

Based in Warren, NJ and established in 1999, Everest Group, a Delaware reinsurance company and a direct subsidiary of Holdings, is a property and casualty insurer and reinsurer in all states, the District of Columbia, Puerto Rico and Guam. Everest Group underwrites property and casualty reinsurance for insurance and reinsurance companies in the U.S. and international markets. As of Dec 31, 2022, the company had statutory surplus of $5.6 billion.

EG is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of A. Shares are up 3.2% over the past one week and up 9.6% over the past four weeks. EG has gained 52.4% in the last one-year period as well. Looking at trading volume, an average of 274,915.91 shares exchanged hands over the last 20 trading days.

A company's earnings performance is important for momentum investors as well. For fiscal 2023, five analysts revised their earnings estimate higher in the last 60 days for EG, while the Zacks Consensus Estimate has increased $4.50 to $47.75 per share. EG also boasts an average earnings surprise of 17.4%.

Investors should take the time to consider EG for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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Everest Group, Ltd. (EG) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research