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Top Momentum Stocks Supported by Sizeable Dividends
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Investors are always looking for stocks with strong momentum whether it be positive news surrounding a new business development or better-than-expected financial results.
These scenarios are often catalysts that can produce a nice rally and more reassuring is when the benefitting stock offers a sizable dividend to persuade longer-term interest. In this regard, here are several highly ranked stocks that investors may want to consider at the moment.
Golden Ocean Group (GOGL - Free Report) : Starting out is Golden Ocean Group, the world’s largest listed owner of large dry bulk vessels. Golden Ocean Group's stock has been on a tear since eclipsing its 200-day moving average in November after posting favorable third quarter results and offering a stronger outlook.
Setting up a bullish pattern, Golden Ocean Group’s stock spiked +13% upon exceeding its Q3 top and bottom line expectations and announcing it was well-positioned to capture market strength and generate significant cash flow.
Image Source: Zacks Investment Research
Fast forward to its most recent Q4 results in late February and Golden Ocean Group delivered another strong quarter with earnings of $0.32 per share comfortably surpassing estimates of $0.25 a share. Fourth quarter sales of $196.75 million came in 5% better than expected with Golden Ocean Group’s large, modern fleet being predominately exposed to the spot market (desired rates by logistic providers).
This has driven the company’s strong performance so far this year as large-size dry bulk vessels continue to outperform the broader freight market due to increasing demand for various key commodities including iron ore, coal, and bauxite.
Golden Ocean Group’s stock has soared +28% year to date to around $12 a share and its 9.48% annual dividend yield should certianly keep investors engaged.
Image Source: Zacks Investment Research
SITIO ROYALTIES (STR - Free Report) : As a shareholder returns-driven company, Sitio Royalties certainly gets income investors' attention with its focus being on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins.
Sitio Royalties has an 8.25% annual dividend yield which impressively trumps the broader Zacks Oils and Energy sector’s 3.52% average.
Image Source: Zacks Investment Research
More impressive, Sitio Royalties' Q4 earnings of $1.12 per share blasted estimates of $0.12 a share by 600% at the end of February. Over the last month Sitio Royalties stock has moved closer to its 52-week highs of $27.61 a share seen last July.
Image Source: Zacks Investment Research
Furthermore, earnings estimate revisions for both fiscal year 2024 and FY25 have soared over the last 60 days which indicates there could be more upside ahead for Sitio Royalties stock and perhaps new highs.
Image Source: Zacks Investment Research
Qifu Technology (QFIN - Free Report) ): Lastly, Qifu Technology is a strong momentum stock to consider as a provider of a comprehensive suite of technology services to assist financial institutions and consumers in China.
Making Qifu Technology’s Credit-Tech platform compelling is that earnings estimate revisions have remained higher over the last two months for both FY24 and FY25 with annual EPS now forecasted to climb 14% this year and jump another 13% next year to $4.76 per share. More enticing, Qifu Technology’s stock has risen +17% YTD but still trades at just 4.3X forward earnings.
Image Source: Zacks Investment Research
Trading around $18, the icing on top is Qifu Technology’s 5.32% annual dividend yield, especially when considering most technology services stocks don’t offer a payout.
Image Source: Zacks Investment Research
Bottom Line
Accompanying their lucrative dividends these stocks are enjoying positive earnings estimate revisions and currently sport a Zacks Rank #1 (Strong Buy) along with an “A” Zacks Style Scores grade for Momentum.
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Top Momentum Stocks Supported by Sizeable Dividends
Investors are always looking for stocks with strong momentum whether it be positive news surrounding a new business development or better-than-expected financial results.
These scenarios are often catalysts that can produce a nice rally and more reassuring is when the benefitting stock offers a sizable dividend to persuade longer-term interest. In this regard, here are several highly ranked stocks that investors may want to consider at the moment.
Golden Ocean Group (GOGL - Free Report) : Starting out is Golden Ocean Group, the world’s largest listed owner of large dry bulk vessels. Golden Ocean Group's stock has been on a tear since eclipsing its 200-day moving average in November after posting favorable third quarter results and offering a stronger outlook.
Setting up a bullish pattern, Golden Ocean Group’s stock spiked +13% upon exceeding its Q3 top and bottom line expectations and announcing it was well-positioned to capture market strength and generate significant cash flow.
Image Source: Zacks Investment Research
Fast forward to its most recent Q4 results in late February and Golden Ocean Group delivered another strong quarter with earnings of $0.32 per share comfortably surpassing estimates of $0.25 a share. Fourth quarter sales of $196.75 million came in 5% better than expected with Golden Ocean Group’s large, modern fleet being predominately exposed to the spot market (desired rates by logistic providers).
This has driven the company’s strong performance so far this year as large-size dry bulk vessels continue to outperform the broader freight market due to increasing demand for various key commodities including iron ore, coal, and bauxite.
Golden Ocean Group’s stock has soared +28% year to date to around $12 a share and its 9.48% annual dividend yield should certianly keep investors engaged.
Image Source: Zacks Investment Research
SITIO ROYALTIES (STR - Free Report) : As a shareholder returns-driven company, Sitio Royalties certainly gets income investors' attention with its focus being on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins.
Sitio Royalties has an 8.25% annual dividend yield which impressively trumps the broader Zacks Oils and Energy sector’s 3.52% average.
Image Source: Zacks Investment Research
More impressive, Sitio Royalties' Q4 earnings of $1.12 per share blasted estimates of $0.12 a share by 600% at the end of February. Over the last month Sitio Royalties stock has moved closer to its 52-week highs of $27.61 a share seen last July.
Image Source: Zacks Investment Research
Furthermore, earnings estimate revisions for both fiscal year 2024 and FY25 have soared over the last 60 days which indicates there could be more upside ahead for Sitio Royalties stock and perhaps new highs.
Image Source: Zacks Investment Research
Qifu Technology (QFIN - Free Report) ): Lastly, Qifu Technology is a strong momentum stock to consider as a provider of a comprehensive suite of technology services to assist financial institutions and consumers in China.
Making Qifu Technology’s Credit-Tech platform compelling is that earnings estimate revisions have remained higher over the last two months for both FY24 and FY25 with annual EPS now forecasted to climb 14% this year and jump another 13% next year to $4.76 per share. More enticing, Qifu Technology’s stock has risen +17% YTD but still trades at just 4.3X forward earnings.
Image Source: Zacks Investment Research
Trading around $18, the icing on top is Qifu Technology’s 5.32% annual dividend yield, especially when considering most technology services stocks don’t offer a payout.
Image Source: Zacks Investment Research
Bottom Line
Accompanying their lucrative dividends these stocks are enjoying positive earnings estimate revisions and currently sport a Zacks Rank #1 (Strong Buy) along with an “A” Zacks Style Scores grade for Momentum.