Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick
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?
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.
The Bank of New York Mellon Corporation (BK)
Headquartered in New York and formed as a holding company for The Bank of New York Mellon, The Bank of New York Mellon Corporation (popularly known as BNY Mellon) is a financial services company that has been in business since 1784. The company was incorporated on Jul 1, 2007, following the merger of The Bank of New York Company Inc. and Mellon Financial Corporation.
BK is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are up 2.1% over the past one week and up 0.6% over the past four weeks. BK has gained 0.6% in the last one-year period as well. Looking at trading volume, an average of 5,058,879 shares exchanged hands over the last 20 trading days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.02 to $4.87 per share. BK boasts an average earnings surprise of 8.7%.
BK 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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The Bank of New York Mellon Corporation (BK) : Free Stock Analysis Report
