Here's Why McKesson (MCK) is a Strong Momentum Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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?
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.
McKesson (MCK)
San Francisco, CA-based McKesson Corporation is a health care services and information technology company. McKesson operates through two segments:
MCK sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is up 1.5% and up 1.3% over the past one-week and four-week period, respectively, and McKesson has gained 20.1% in the last one-year period as well. Additionally, an average of 803,751.88 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, six analysts revised their earnings estimate higher in the last 60 days for MCK, while the Zacks Consensus Estimate has increased $0.09 to $27.25 per share. MCK also boasts an average earnings surprise of 8.9%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding MCK to their portfolios.
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McKesson Corporation (MCK) : Free Stock Analysis Report
