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Here's Why Ameriprise Financial Services (AMP) is a Strong Momentum Stock

Zacks Equity Research
·2 分鐘文章

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

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.

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Ameriprise Financial Services (AMP)

Headquartered in Minneapolis, MN, Ameriprise Financial, Inc. was founded in 1894 under the name Investors Syndicate. Notably, since 2005-end, Ameriprise has been operating independently of American Express Company. As of Mar 31, 2024, the company owned, managed and administered assets worth $1.42 trillion.

AMP boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Ameriprise Financial Services has seen some interesting price action recently; the stock is down 2.3% over the past one week and up 1.4% over the past four weeks. And in the last one-year period, AMP has gained 38.3%. As for the stock's trading volume, 412,808.09 shares on average were traded over the last 20 days.

Momentum investors also pay close attention to a company's earnings. For AMP, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.59 to $34.95 per share for 2024. AMP boasts an average earnings surprise of 2%.

AMP 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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Ameriprise Financial, Inc. (AMP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research