CIGI, WFG, ENB, X & DOL: 5 TSX stocks to buy for retirement

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CIGI, WFG, ENB, X & DOL: 5 TSX stocks to buy for retirement

Canada retirement stocks
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Highlights

  • In the next 25 years, it is expected that the number of people aged 85 and above will triple.
  • Colliers International Group Inc is a real estate services company and has operations in more than 60 countries.
  • Enbridge Inc. (TSX:ENB) is one of Canada's largest oil and gas companies, and on May 6, 18.18 million ENB shares exchanged hands.

The Canadian securities regulators have reportedly warned people about the increasing instances of financial elder abuse. Recently, a report by Statistics Canada revealed the number of Canadians aged between 55-64 has outnumbered Canadian aged between 15-24 for the first time.

In the next 25 years, it is expected that the number of people aged 85 and above will triple. Hence, it is expected that the issue of financial elder abuse could increase in future.

If you are looking to remain financially stable when you are old, you could consider investing in some stocks for the long term. We have shortlisted five 'retirement stocks' listed on the TSX, and you may consider exploring them:

Colliers International Group Inc. (TSX:CIGI)

The real estate services company has operations in more than 60 countries and also provides investment management services. At market close on Friday, May 6, the CIGI stock was priced at C$ 141.19 per share.

Notably, the CIGI stock is known for its semi-annual dividends, and it registered a massive dividend growth of 24.4 per cent in the last three years.

Also Read: Lightweights in 2022: 5 junior Canadian stocks to buy in May

The real estate company distributed a semi-annual dividend of US$ 0.15 per unit, and its dividend yield is around 0.3%. In Q1 2022, Colliers International's revenues soared to US$ 1,000.9 million, up from US$ 774.9 million in Q1 2021.

West Fraser Timber Co. Ltd. (TSX:WFG)

The basic materials company is involved in making diversified wood products and has business operations in Canada, Europe, the United States, and the United Kingdom.

The price-to-book (P/B) ratio of West Fraser is one, and generally, a P/B ratio of one or less than one is considered good for a company. The P/B ratio helps you identify whether you buy the stock at a premium or a discounted price.

In Q1 2022, West Fraser's sales amounted to US$ 3.1 billion, and earnings were approximately US$ 1.1 billion. Meanwhile, the adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) were US$ 1.59 billion.

Enbridge Inc. (TSX:ENB)

It is one of Canada's largest oil and gas companies, and on May 6, 18.18 million ENB shares exchanged hands on the Toronto Stock Exchange (TSX).

Enbridge has a history of paying frequent dividends and is one of the most popular stocks in the country. Enbridge has a dividend yield of around six per cent, and its return on equity is 11.3 per cent.

During the trading session on Friday, the ENB stock climbed 2.2 per cent and closed at C$ 58.47 per share. Meanwhile, its market capitalization is around C$ 118.5 billion, making it a blue-chip stock.

TMX Group Limited (TSX:X)

TMX Group operates multiple global markets to provide investment opportunities to the people, and its markets include the TSX, TSX Venture Exchange, and the TSX Alpha Exchange, among others.

As per Refinitiv data, the Relative Strength Index (RSI) value of the TMX Group is 58, and it appears to be above the neutral zone, indicating that the stock is in an upward position.

On May 6, the X stock had gained 0.8 per cent and closed at C$ 133.47 per share. The TMX Group's dividend yield is 2.5 per cent, and it distributed a quarterly dividend of C$ 0.83 apiece.

Dollarama Inc. (TSX:DOL)

Dollarama is spread across Canada and is an operator of retail stores with discounted products. The stores sell everyday consumer products, seasonal items, and general merchandise.

The retailer's sales increased by 11 per cent year-over-year to C$ 1,224.9 million in Q4 2022. Meanwhile, the comparable store sales grew 5.7% YoY.

The company is expanding as Dollarama opened 24 net new stores in the fourth quarter of fiscal 2022. Notably, the EBIDTA grew 20.4% YoY to C$ 393.7 million.

Also Read: Activision soars as Berkshire ups stake: Does Buffett own TSX stocks?

Please note, the above content constitutes a very preliminary observation or view based on digital trends 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.

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