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Even as the world awaits a faster recovery from the pandemic crisis, many investors are looking for a period of slump to add discounted stocks to their portfolios in the hopes of earning healthy returns in future.
With economic revival varying in each sector, investors are often in search of such low cost stocks that come with robust growth outlook.
Let’s look into the performances of five discounted stocks that you might want to explore before the next quarter begins.
1. Air Canada (TSX:AC)
Air Canada had a hard time amid the pandemic. The aviation company posted a net loss of C$ 1.3 billion in the first quarter of 2021 as a result of travel restrictions, which led to the suspension of most of its flight operations.
The top Canadian airline’s operations continue to suffer amid COVID-related travel bans. However, experts believe that the stock may pick up pace as the company’s losses shrink in the wake of a ramped-up vaccine rollout and eventual relaxation of the restrictions.
Air Canada stock is up nearly 13 per cent year-to-date (YTD) and has expanded by almost 54 per cent in the past year.
2. Morguard Corporation (TSX:MRC)
Stocks of the real estate company, which holds a market capitalization of C$ 1.5 billion, may see substantial growth on the back of a booming real estate market in Canada.
Morguard Corporation is likely to benefit from the surging home prices in Canada through its diversified portfolio of residential, commercial, retail and hotel assets.
Morguard scrip is currently valued at C$ 138.8, about 20 per cent up YTD.
The real estate player operates through direct asset and stake ownership in real estate investment trusts. Its stocks are also one of the top performers on the TSX in the real estate sector.
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3. BlackBerry Ltd (TSX:BB)
Stocks of software security company Blackberry Ltd are currently down about two per cent from its previous closing price, trading at C$ 10.37 (3.31PM EST). however, the stock post a one-year growth of nearly 63 per cent.
The recovery in the stock from its pandemic lows has been notable, gained in the wake of rising demand of tech and security services amid the pandemic.
BlackBerry’s market capitalization currently stands at nearly C$ 6 billion, as per TMX.
BB stock’s growth primarily depends on how the technology player evolves with the changing automation environment and markets its offerings. This may come to the tech player’s aid, offering healthy returns to its investors.
4. Suncor Energy Inc (TSX:SU)
Energy sector giant Suncor Energy saw its stocks come crumbling down as the pandemic hit last year, swooping to a low of C$ 15.07 on March 18, 2020. Since then, however, the stock has catapulted by nearly 86 per cent in the last 14 months.
With the oil commodity prices expected to rise this year, the Canadian oil and gas player is likely to benefit as its revenues are highly reliant on its oil sands production volumes.
Suncor’s market capitalization currently stands at about C$ 42 billion, as per TMX.
5. Canada Goose (TSX:GOOS)
The Canadian apparel maker’s stocks are currently trading a discount of about 10 per cent month-to-date, priced at C$ 46.77 apiece (3.49PM EST).
However, Canada Goose stocks have rocketed by 62 per cent in the past year, propelled by its online business.
The company saw its total revenue surge by 33.7 per cent year-over-year (YoY) to $ 208.8 million in its fourth quarter of fiscal 2021, with global e-commerce revenue expanding by 123.2 per cent YoY.
While its online business holds a robust performance, Canada Goose’s growth could expand further as the economy full reopens and travel restrictions ease, as tourism may also push the apparel maker’s revenues.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.
