Here's Why Axis Capital (AXS) is a Strong Momentum Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
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.
Axis Capital (AXS)
Incorporated on Dec 9, 2002, AXIS Capital Holdings Limited is the Bermuda-based holding company for the AXIS group of companies. AXIS Specialty Bermuda commenced operations on Nov 20, 2001. AXIS Specialty Bermuda and its subsidiaries became wholly owned subsidiaries of AXIS Capital pursuant to an exchange offer consummated on Dec 31, 2002.
AXS boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #2 (Buy) rating. Shares of Axis Capital has seen some interesting price action recently; the stock is up 3.2% over the past one week and up 8.9% over the past four weeks. And in the last one-year period, AXS has lost 4.5%. As for the stock's trading volume, 811,674.25 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, three analysts revised their earnings estimate higher in the last 60 days for AXS, while the Zacks Consensus Estimate has increased $0.52 to $10.05 per share. AXS also boasts an average earnings surprise of 102.6%.
Investors should take the time to consider AXS for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report
