Yahoo Finance Why Philip Morris (PM) is a Top Momentum Stock for the Long-Term
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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?
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.
Philip Morris (PM)
Philip Morris International is progressing well with its business transformation in the face of consumers rising health consciousness and stern regulations to dissuade smoking. To this end, the tobacco giant has been expanding in the reduced risk products (RRPs) or smoke-free products category, evident from the success of IQOS (a heating tobacco device) that counts amongst one of the leading RRPs in the industry.
PM boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of Philip Morris has seen some interesting price action recently; the stock is up 0.8% over the past one week and up 7.5% over the past four weeks. And in the last one-year period, PM has gained 34.2%. As for the stock's trading volume, 4,316,973.50 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For PM, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.12 to $6.44 per share for 2024. PM boasts an average earnings surprise of 1.8%.
PM 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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Philip Morris International Inc. (PM) : Free Stock Analysis Report
