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Here's Why Centene (CNC) is a Strong Momentum Stock

Zacks Equity Research
·2 分鐘文章

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?

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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Centene (CNC)

Centene Corporation is a well-diversified healthcare company that primarily provides a set of services to the government sponsored healthcare programs. The company serves the under-insured and uninsured individuals through member-focused services. It is also engaged in providing education and outreach programs to inform and assist members in accessing quality, appropriate healthcare services.

CNC sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of A. The stock is up 0.4% and up 3.9% over the past one-week and four-week period, respectively, and Centene has gained 19.4% in the last one-year period as well. Additionally, an average of 3,604,382.75 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. Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.06 to $6.81 per share. CNC boasts an average earnings surprise of 10.5%.

CNC 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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Centene Corporation (CNC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research