Here's Why Light & Wonder (LNW) 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?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This 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.
Light & Wonder (LNW)
Light & Wonder, Inc., formerly known as Scientific Games Corporation, is a leading developer of technology-based products and services and associated content for the gaming, social and digital gaming industries globally. The company changed its name on Apr 28, 2022 due to the sale of the Lottery Business that continues to use the previous name of Scientific Games, and also to align with its vision of becoming a leading cross-platform global games company.
LNW is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 4.8% over the past one week and up 1.6% over the past four weeks. LNW has gained 74.3% in the last one-year period as well. Looking at trading volume, an average of 622,802.69 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, two analysts revised their earnings estimate higher in the last 60 days for LNW, while the Zacks Consensus Estimate has increased $0.26 to $3.78 per share. LNW also boasts an average earnings surprise of 74.5%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding LNW to their portfolios.
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Light & Wonder, Inc. (LNW) : Free Stock Analysis Report
