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Why Manulife Financial (MFC) is a Top Momentum Stock for the Long-Term

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?

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.

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Manulife Financial (MFC)

Headquartered in Toronto, Canada, Manulife Financial Corporation was founded in 1887. Manulife is one of the three dominant life insurers within its domestic Canadian market and possesses rapidly growing operations in the U.S. and several Asian countries. Manulife reports earnings through six divisions and has five major operating divisions – Asia, Canada, U.S. Insurance and U.S. Wealth Management, and Corporate.

MFC boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of Manulife Financial has seen some interesting price action recently; the stock is down 2.1% over the past one week and up 10.7% over the past four weeks. And in the last one-year period, MFC has gained 23%. As for the stock's trading volume, 3,306,229.50 shares on average were traded over the last 20 days.

Momentum investors also pay close attention to a company's earnings. For MFC, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.04 to $2.69 per share for 2024. MFC boasts an average earnings surprise of 7%.

MFC 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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