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.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
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.
Globe Life (GL)
Based in McKinney, TX and founded in 1979, Globe Life Inc. (formerly known as Torchmark Corporation) is an insurance holding company for a group of insurance companies that market primarily individual life and supplemental health insurance to lower-middle to middle-income households throughout the United States. Globe Life's insurance subsidiaries write a variety of nonparticipating ordinary life insurance products, which include traditional whole life, term life and other life insurance. Globe Life offers Medicare Supplement and limited-benefit supplemental health insurance products that include primarily critical illness and accident plans.
GL boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Globe Life has seen some interesting price action recently; the stock is down 3.4% over the past one week and up 29.1% over the past four weeks. And in the last one-year period, GL has lost 22.9%. As for the stock's trading volume, 3,538,816.50 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For GL, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.15 to $11.72 per share for 2024. GL boasts an average earnings surprise of 1.3%.
GL should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Globe Life Inc. (GL) : Free Stock Analysis Report
