Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
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.
World Wrestling Entertainment (WWE)
World Wrestling Entertainment Inc. or WWE is an integrated media and entertainment company with business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company is primarily engaged in the production and distribution of unique and creative content via myriad channels, including the premium over-the-top network (“WWE Network”) monetized through license arrangements or through direct-to-consumer subscriptions, content rights agreements, premium live event programming, and the sale of consumer products featuring brands. The company leverages the Internet and social media platforms such as YouTube and Facebook, to promote brands, market and distribute content and digital products.
WWE is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of A. Shares are down 4.6% over the past one week and up 9.3% over the past four weeks. WWE has gained 1.7% in the last one-year period as well. Looking at trading volume, an average of 689,755.50 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. One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2022. The Zacks Consensus Estimate has increased $0 to $2.48 per share. WWE boasts an average earnings surprise of 48.3%.
WWE 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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