Yahoo Finance Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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?
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.
Omnicom (OMC)
New York based Omnicom is one of the largest advertising, marketing and corporate communications companies in the world. The company’s agencies operate in all the major markets across the globe and provide an extensive range of services. Areas of operation include North America, Latin America, Europe, the Middle East, Australia, China, India, Japan, Korea, Africa, New Zealand, Singapore, and other Asian countries.
OMC sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is up 3.6% and up 0.4% over the past one-week and four-week period, respectively, and Omnicom has lost 0% in the last one-year period as well. Additionally, an average of 1,533,182.88 shares were traded over the last 20 trading sessions.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.17 to $7.81 per share. OMC boasts an average earnings surprise of 3.2%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding OMC to their portfolios.
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Omnicom Group Inc. (OMC) : Free Stock Analysis Report
