Yahoo Finance Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
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.
Baker Hughes (BKR)
Based in Houston, TX, Baker Hughes Company is one of the world’s largest oilfield service providers. The integrated oilfield products and digital solutions of Baker Hughes help customers efficiently and cost-effectively refine and transport hydrocarbons with low environmental concerns. Moreover, with growing demand for clean energy and the need to curb greenhouse gas emissions, countries around the world are investing in LNG terminals. This has given Baker Hughes the opportunity to expand its reach beyond oilfields in order to capitalize on contracts for manufacturing equipment that is being used in LNG facilities.
BKR is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of A and VGM Score of A. Shares are down 10.5% over the past one week and up 2.3% over the past four weeks. BKR has lost 4% in the last one-year period as well. Looking at trading volume, an average of 7,009,295 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. Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.11 to $2.20 per share. BKR boasts an average earnings surprise of 10%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding BKR to their portfolios.
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Baker Hughes Company (BKR) : Free Stock Analysis Report
