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Highlights
- Investors often seek out cheap stocks that can grow in the future.
- These can either be stocks with low prices or those with low price-to-earnings ratios.
- Some cheap stocks on the TSX also pay regular dividends.
Investors often seek out cheap stocks that can grow in the future. These can either be stocks with low prices or those with low price-to-earnings ratios.
Let us explore some such cheap stocks listed on the Toronto Stock Exchange (TSX).
- Cascades Inc (TSX: CAS)
Cascades Inc engages in manufacturing and packaging tissue products extracted out of recycled fibers. The C$ 1.5-billion market cap company saw its stock close at a value of C$ 14.97 apiece on August 5, 2021.
At this price, the stock was trading around 19 per cent below its 52-week high of C$ 18.48 (March 10, 2021) and about 15 per cent above its 52-week low of C$ 13.06 (May 18, 2021).
Cascades Inc is scheduled to pay its investors quarterly dividends of C$ 0.12 apiece on September 2, 2021. It held earnings per share (EPS) of 2.02 as of August 5.
- Canaccord Genuity Group Inc (TSX: CF)
Canaccord Genuity Group is a financial service firm providing wealth management and capital market services. Its market cap stood at C$ 1.52 billion on August 5, while its scrip closed at C$ 14.14 apiece.
At this price, CF stock noted a nine-month growth of 96 per cent and one-year growth of nearly 83 per cent.
Canaccord is set to roll out its quarterly dividends of C$ 0.075 apiece on September 10. Its dividend grew at a rate of 21.46 per cent in the past three years.
The EPS of the company stood at 2.3, whereas its price-to-earnings (P/E) was 6, as on August 5.
- Equitable Group Inc. (TSX: EQB)
Canadian financial services firm Equitable Group saw its stock close at C$ 146.18 on August 5, trading 99 per cent above its 52-week low of C$ 73.49 (September 24, 2020).
EQB stock returned some 56 per cent in the last nine months, and about 84 per cent in the past year.
Equitable Group is expected to pay its shareholders quarterly dividends of C$ 0.37 apiece on September 30, 2021. The historical dividend yield is 1.01 per cent, and the 5-year dividend growth rate stood at 13.23
The company held an EPS of 16.63 and a P/E ratio of 8.8 as on August 5. Its return on equity (ROE) stood at 17.8 per cent.
- Toronto Dominion Bank (The) (TSX:TD)
Toronto Dominion Bank is one of the top Canadian lenders providing various banking services to its customers. Its stock settled at C$ 83.7 on August 5, trading about six per cent below its 52-week high of C$ 89.12 apiece (May 27, 2021).
In the past year, TD stock price climbed by 39 per cent, and it increased by 16 per cent on a year-to-date (YTD) basis.
The bank paid quarterly dividends of C$ 0.79 apiece on July 31, 2021. TD held an EPS of 7.78, a price to book (P/B) ratio of 1.7, and an ROE of nearly 16 per cent.
Its P/E ratio was about 11.
Also read: 5 Cheap Renewable Energy Stocks To Keep An Eye On In 2021
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- Manulife Financial Corporation (TSX: MFC)
Manulife Financial Corporation, a Canadian insurance company, saw its stock close at C$ 24.56 on August 5, holding a one-year growth of 26 per cent.
In the last nine months, MFC stocks have soared by over 30 per cent.
The financial corporation is expected to pay quarterly dividends of C$ 0.28 apiece on September 20, 2021.
The insurance company stands with a P/E ratio of 6.7, EPS of 3.65, and ROE of 14.82 per cent, while the debt to equity (D/E) ratio was 0.25.
- BRP Inc. Subordinate Voting Shares (TSX: DOO)
BRP Inc is known to build and sell snowmobiles, all-terrain vehicles, etc. its products are sold through a vast network of dealers and distributors.
After closing at C$ 106.19 on August 5, DOO stock was trading about 11 per cent below its 52-week high of C$ 119.6 (April 27, 2021.
The stock, however, jumped by 42 per cent over the last nine months, and soared by 77 per cent in the past year.
BRP pays a quarterly dividend of C$ 0.13 apiece, which was last paid on July 16.
The company held an EPS of 9.6, a P/E ratio of 11, and a return on assets (ROA) of roughly 20.
- Western Forest Products Inc (TSX:WEF)
Western Forest Products, as the names suggests, is into the business of manufacturing forest products. Its mainly focuses on timber harvesting, sawmilling logs, while also engaging in practices such as reforestation.
After closing at a value of C$ 1.89 on August 5, Western Forest stock was trading about 125 per cent above its 52-week low of C$ 0.84 (October 30, 2020).
Its stock price soared by around 108 per cent in the last nine months, and had ballooned by 80 per cent in the past year.
Western Forest Products paid a quarterly dividend of C$ 0.01 apiece on June 18 this year.
Bottomline
No matter what stocks interest them, be it cheap or otherwise, investors should always engage in thorough research before making investment-oriented decisions.
