- Victoria Day, which falls on the Monday before May 25 every year, is celebrated in the honour of Queen Victoria’s birth anniversary.
- Investors can shortlist some TSX stocks that can see the impact in the wake of Victoria Day.
- These TSX Canadian stocks offer products that people are likely to have splurged on during the Victoria Day weekend.
Thanks to Victoria Day, Canadians have been enjoying a long weekend. Victoria Day, which falls on the Monday before May 25 every year, is celebrated in the honour of Queen Victoria’s birth anniversary. This day also marks the arrival of summer days with fireworks, events and social gatherings across the nation.
Although Victoria Day is a federal holiday in Canada, meaning no stock trading, investors can shortlist some TSX stocks that can see the impact in the wake of this celebration.
So, here are three Toronto Stock Exchange (TSX)-listed stocks that you explore on Victoria Day.
Air Canada (TSX: AC)
Air Canada is the biggest airline in Canada and holds a market capitalization exceeding C$ 7.5 billion. In February, the mid-cap airline expanded its network for Summer 2022 by introducing seven new routes and restoring 41 routes in North America.
It also relaunched 34 routes, thereby expanding its international schedule. Hence, providing Canadians to travel to different travel destinations across the nation and internationally.
Investors should note that Air Canada can be consider a risky venture as its debt-to-equity (D/E) ratio is nearly 1,836. A high D/E ratio generally signifies that the company mainly uses debt financing.
Molson Coors Canada Inc (TSX: TPX.A)
Molson Coors Canada brews and distributes beer and fermented drinks under various banners. The beer company has two geographical segments: Americas (where it produces a significant portion of its revenue) and EMEA and APAC.
The large-cap beer maker saw its net sales zoom by 16.7 per cent year-over-year (YoY) to US$ 2.21 billion in Q1 FY2022. Based on Generally Accepted Accounting Principles (GAAP), Molson Coors’ net profit jumped by 80.1 per cent YoY to US$ 151.5 million in the latest quarter.
Premium Brands Holdings Corporation (TSX: PBH)
Premium Brands Holdings provides speciality and premium food and also operates wholesale business across North America. The mid-cap food company has a price-to-earnings (P/E) ratio of about 32 per cent, which can signify that the stock is overvalued (as above 11) and could provide growth exposure to investors in the long run.
Premium Brands Holdings also announced a quarterly dividend of C$ 0.70, payable on July 15.
These TSX Canadian stocks offer products that people are likely to have splurged on during the Victoria Day weekend. However, investors should also consider other economic factors, like inflation, which could also affect consumers’ behaviour.
Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.