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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores?
The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value Score
Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth Score
Growth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum Score
Momentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM Score
What if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +25.41% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: NMI Holdings (NMIH)
Headquartered in Emeryville, CA, NMI Holdings was incorporated in May 2011 and began start-up operations in 2012. NMI Holdings wrote its first MI policy in 2013.
NMIH is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Finance stock. NMIH has a Momentum Style Score of B, and shares are up 7.6% over the past four weeks.
Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.26 to $4.50 per share. NMIH also boasts an average earnings surprise of 10.2%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, NMIH should be on investors' short list.
Zacks Investment Research
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Considering buying GEHC stock? Here’s what analysts think:
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Cramer: Hewlett Packard Is A ‘Very Inexpensive’ Stock, Likes This Big Tech Stock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Have you been paying attention to shares of NMI Holdings (NMIH)? Shares have been on the move with the stock up 7.6% over the past month. The stock hit a new 52-week high of $42.09 in the previous session. NMI Holdings has gained 38.7% since the start of the year compared to the 16.6% move for the Zacks Finance sector and the 27.8% return for the Zacks Insurance - Property and Casualty industry.
What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on July 30, 2024, NMI Holdings reported EPS of $1.2 versus consensus estimate of $1.04 while it beat the consensus revenue estimate by 2.11%.
For the current fiscal year, NMI Holdings is expected to post earnings of $4.50 per share on $650.03 million in revenues. This represents a 17.19% change in EPS on a 12.27% change in revenues. For the next fiscal year, the company is expected to earn $4.74 per share on $692.83 million in revenues. This represents a year-over-year change of 5.33% and 6.58%, respectively.
Valuation Metrics
NMI Holdings may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.
On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
NMI Holdings has a Value Score of B. The stock's Growth and Momentum Scores are D and B, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 9.2X current fiscal year EPS estimates, which is not in-line with the peer industry average of 13.6X. On a trailing cash flow basis, the stock currently trades at 9.9X versus its peer group's average of 13.2X. Additionally, the stock has a PEG ratio of 0.94. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to consider the stock's Zacks Rank, as this supersedes any trend on the style score front. Fortunately, NMI Holdings currently has a Zacks Rank of #2 (Buy) thanks to favorable earnings estimate revisions from covering analysts.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if NMI Holdings passes the test. Thus, it seems as though NMI Holdings shares could have potential in the weeks and months to come.
How Does NMIH Stack Up to the Competition?
Shares of NMIH have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is Axis Capital Holdings Limited (AXS). AXS has a Zacks Rank of # 1 (Strong Buy) and a Value Score of A, a Growth Score of C, and a Momentum Score of A.
Earnings were strong last quarter. Axis Capital Holdings Limited beat our consensus estimate by 16.27%, and for the current fiscal year, AXS is expected to post earnings of $10.71 per share on revenue of $6.13 billion.
Shares of Axis Capital Holdings Limited have gained 6.5% over the past month, and currently trade at a forward P/E of 7.42X and a P/CF of 7.5X.
The Insurance - Property and Casualty industry is in the top 8% of all the industries we have in our universe, so it looks like there are some nice tailwinds for NMIH and AXS, even beyond their own solid fundamental situation.
Zacks Investment Research
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Considering buying SBUX stock? Here’s what analysts think:
Read Next:
Latest Ratings for SBUX
Date | Firm | Action | From | To |
---|---|---|---|---|
Feb 2022 | Deutsche Bank | Maintains | Buy | |
Feb 2022 | MKM Partners | Maintains | Buy | |
Feb 2022 | Credit Suisse | Maintains | Outperform |
View More Analyst Ratings for SBUX
View the Latest Analyst Ratings
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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