Yahoo Finance Here's Why CNO Financial (CNO) is a Strong Momentum Stock
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.
CNO Financial (CNO)
Headquartered in Carmel, IN, CNO Financial Group Inc. is a top-tier holding company for a group of insurance companies operating throughout the U.S., which develops, administers and markets supplemental health insurance, annuity, individual life insurance and other insurance products. It distributes these products through three distribution channels: career agents, professional independent producers and direct marketing. Founded in 1979, Conseco Inc. began operations in 1982, going on to become a public company in 1985. It changed its name to CNO Financial Group Inc. on May 11, 2010.
CNO sits at a Zacks Rank #1 (Strong Buy), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is down 0.2% and up 0.3% over the past one-week and four-week period, respectively, and CNO Financial has gained 22.2% in the last one-year period as well. Additionally, an average of 758,065.63 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. Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.15 to $3.19 per share. CNO boasts an average earnings surprise of 3.6%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding CNO to their portfolios.
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CNO Financial Group, Inc. (CNO) : Free Stock Analysis Report
