Here's Why FirstEnergy (FE) is a Strong Momentum Stock
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?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
FirstEnergy (FE)
Headquartered in Akron, OH, FirstEnergy Corporation was founded in 1996. The company is a diversified energy company. Through its subsidiaries and affiliates, FirstEnergy engages in the transmission, distribution and generation of electricity.
FE is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 0.4% over the past one week and up 1.5% over the past four weeks. FE has lost 4.6% in the last one-year period as well. Looking at trading volume, an average of 2,872,963.25 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, two analysts revised their earnings estimate higher in the last 60 days for FE, while the Zacks Consensus Estimate has increased $0.03 to $2.68 per share. FE also boasts an average earnings surprise of 1.9%.
FE 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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FirstEnergy Corporation (FE) : Free Stock Analysis Report
