Why Light & Wonder (LNW) 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?
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.
Light & Wonder (LNW)
Light & Wonder, Inc., formerly known as Scientific Games Corporation, is a leading developer of technology-based products and services and associated content for the gaming, social and digital gaming industries globally. The company changed its name on Apr 28, 2022 due to the sale of the Lottery Business that continues to use the previous name of Scientific Games, and also to align with its vision of becoming a leading cross-platform global games company.
LNW is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are up 1.3% over the past one week and up 19.2% over the past four weeks. LNW has gained 71.7% in the last one-year period as well. Looking at trading volume, an average of 629,072.94 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. Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.22 to $3.74 per share. LNW boasts an average earnings surprise of 74.5%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding LNW to their portfolios.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Light & Wonder, Inc. (LNW) : Free Stock Analysis Report
