There is always something to buy in the stock market. On Monday, I put out a list of the stocks that I covered and showed what stock might be a good deal based on dividend yield. Now I am trying to categorize what sorts of stocks may be a good deal based on dividend yield.
Categorizing stocks is not as simple as it might seem. Every site you go to has categorized stocks a bit differently. I try to keep this as simple as possible. See my spreadsheet at here. As in other spreadsheets, you can highlight a line or a number of lines for better viewing.
Of the consumer discretionary stocks, Canadian Tire is still looking cheap. A number of Consumer Staple stocks seem to be cheap. Examples would be Dorel Industries (TSX-DII.B A) and Metro Inc. (TSX-MRU).
In Real Estate, only Granite Real Estate (TSX-GRT) looks to be at a good price. Brookfield Properties Corp (TSX-BPO) has been bought out.
Some of the banks still seem to be cheap. These would be National Bank (TSX-NA), Royal Bank (TSX-RY) and TD Bank (TSX-TD). There are some others in finance that deserves to be cheap, like AGF Management (TSX-AGF). However, CI Financial (TSX-CIX) and IGM Financial have good prices. Both Power Corp (TSX-POW) and Power Financial (TSX-PWF) are looking cheap.
There are a few cheap Industrial stocks like Finning International Inc. (TSX-TFF) and SNC-Lavalin (TSX-SNC). I just read a recent analysts report saying that now may be a good time to buy Bombardier Inc. (TSX-BBD.B) and the price looks cheap. However, the problem with this testing and Bombardier, is that Bombardier is not a dividend growth stock. Dividend are usually flat with this stock.
There are not many companies cheap in the Tech sector except for small companies like Calian Technologies Ltd (TSX-CTY) and Evertz Technologies (TSX-ET).
A number of energy stocks also seem cheap. Examples are Canadian Natural Resources (TSX-CNQ); Cenovus Energy Inc. (TSX-CVE) and Suncor Energy (TSX-SU). Both CNQ and SU is showing up as cheap on historical basis, whereas CVE is just cheaper than average.
The infrastructure type utility companies are not cheap. Of the utilities companies, only Just Energy is showing as cheaper than average, and it may be there for a good reason.
Of the Telecom Stocks BCE (TSX-BCE) and Shaw Communications Inc. (TSX-SJR.B) still seem on the cheap side. I think that Manitoba Telecom (TSX-MBT) is cheap for a good reason.
On my other blog I am today writing about Penn West Petroleum Ltd. (TSX-PWT, NYSE-PWE)...continue...
This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.
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