TSX stocks to explore if you are a millennial

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 TSX stocks to explore if you are a millennial
Image source: © Adiruch | Megapixl.com

Highlights

  • In Q2 2022, the total revenue of Ballard Power Systems Inc. was US$ 20.9 million. 
  • As of June 30, 2022, the total assets of Constellation Software Inc. were noted at US$ 7,421 million. 
  • On September 12, 2022, Converge Technology Solutions Corp. announced its acquisition of Newcomp Analytics.

During the great recession in 2007-2009, the millennials were either too young or just had begun their investment journey. Now, with another recession around the corner, millennials are again exposed to an economic slugfest. It can be stressful to deal with these fears and safeguard your portfolio simultaneously. But these are also times that provide different learning opportunities.

A long-term investing approach has the potential to wade through turbulence.  The market is ever-changing and should be taken that way. Make way for a stable future with the right approach and stock selection.

Let's look at five TSX stocks and their performances in recent quarters:      

  1. Ballard Power Systems Inc. (TSX: BLDP)

Ballard Power Systems Inc. deals in proton exchange membrane fuel cell and power system development. The main business segment of the company includes designing, developing, manufacturing, selling, and service of PEM fuel cell products.

At present, the total market capitalization of Ballard Power Systems Inc. is US$ 2.34 billion.

In Q2 2022, Ballard Power reported total revenue of US$ 20.9 million. Its total cash operating costs and operating expenses were US$ 32.1 million and US$ 38.5 million respectively.  

For the quarter ended that on June 30, 2022, its cash reserves decreased and were posted at US$ 1,004.6 million.

  1. Constellation Software Inc. (TSX: CSU)

Constellation Software Inc. operates in private and public sector markets and is into developing and customizing software.

In Q2 2022, the revenue of the company grew by 30 per cent to US$ 1,618 million as compared to US$ 1,249 million in Q2 2021. Further, the net income increased 43 per cent to US$ 126 million from US$ 88 million in Q2 2021.

As of June 30, 2022, the total assets grew and were noted at US$ 7,421 million as against US$ 5,766 million as on December 31, 2021. The total liabilities also increased and were reported at US$ 5,751 million from US$ 4,245 million as on December 31, 2021.

The company completed several acquisitions for aggregate cash consideration of US$ 1,000 million in the second quarter of fiscal 2022.

During the reported quarter, (June 30, 2022), Constellation Software declared its plan to acquire several businesses for aggregate cash consideration of US$ 134 million. 

  1. Converge Technology Solutions Corp. (TSX: CTS)

Converge Technology Solutions Corp. is engaged in building a platform of Hybrid IT infrastructure providers. It is based in Canada and delivers services and solutions in the United States.

In Q2 2022, the net revenue increased to C$ 596.6 million from C$ 345.3 million in Q2 2021. The adjusted EBITDA also witnessed a growth of 80 per cent and was reported at C$ 39.18 million. Further, the net income grew by 1039 per cent and was noted at C$ 11.67 million.

On September 22, 2022, the company communicated about acquiring Stone Technologies Group Limited.

The below graph depicts the changes in total assets and liabilities within a span of six months.

  1. Air Canada (TSX: AC)

Air Canada flies U.S. nationals on long-haul trips with a layover in Canada. Along with its regional partners, Air Canada serves approximately 50 million passengers on an annual basis. The current employee strength of the airline is 19,769.

In Q2 2022, the operating revenues were reported at C$ 3.981 billion, a five-fold increase compared to Q2 2021. Further, the passenger revenues increased to C$ 3.441 billion which is eight times increase in the same comparative period.

Simultaneously, the operating expenses grew to C$ 4.234 billion which is an increase of C$ 2.264 billion from Q2 2021.

The EBITDA was noted at C$ 154 million, as against a negative EBITDA of C$ 656 million in Q2 2021.

On September 15, 2022, Air Canada announced its purchase agreement for 30 ES-30 electric-hybrid aircraft.

On June 22, 2022, Air Canada made a declaration of its joint business agreement with United Airlines for the Canada-US transborder market. 

  1. TELUS Corporation (TSX: T)

TELUS Corporation is a wireless service provider and its services include landline, television, and internet.

In Q2 2022, TELUS Corporation's consolidated revenue increased by 7.1 per cent. Further, the adjusted EBITDA and net income increased by 8.9 per cent, 45 per cent respectively.

Furthermore, there was an increase in the EPS (earnings per share) too by 36 per cent.

As of June 30, 2022, Free cash flow (FCF) decreased to C$ 205 million.

On September 1, 2022, the company announced the completion of the acquisition of LifeWorks Inc. 

Bottom Line:

Amid the ongoing market fluctuations, millennials can follow a long-term strategy to get a grip on their portfolio. Also, portfolio diversification can make the investor sweep through the volatile phase in an effective way.

Market hiccups are a part of the game and should be dealt with through in-depth research. With several unpredictable macroeconomic situations, one should be prepared with a practical and diversified approach. 

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.

 

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