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In early August, I talked about how Canadians can protect themselves from a possible collapse in the inventory market.The movements of corporations that offer essential facilities are especially attractive.These corporations established their importance with the COVID-19 crisis.Today I need to take a look at 3 movements that appear undervalued in the last days of August.
Canadians deserve to take a look at exposure to the renewable energy area earlier and early in this decade. Renewable energy grew dramatically in the 2010s.Investors can expect green energy manufacturers to increase their overall percentage of electricity generation even further in this decade.In addition, many renewable energy inventories are reliable and generate smart revenue.It’s best for those who are worried about a fall in the inventory market.
Polaris Infrastructure (TSX: PIF) is a Toronto-based corporation engaged in the acquisition, progression and operation of renewable energy projects.Its shares increased 22% in 2020 at the end of August 21, earnings greater than $18.9 million from $17.2 million last year.Cash from operations greater than $10.8 million from $9.1 million.
The last inventory had a price-to-earnings ratio (P/E) of 8.3 and an accounting price/price (P/B) of 0.8, which puts Polaris in a territory of very exciting prices compared to its industry peers.In addition, it gives a quarterly dividend of $0.15 consistent with the stock, representing a maximum yield of 5.5%.Polaris is an action that can cope with an imaginable collapse of the inventory market.
Health movements have attracted abundant attention in the face of the COVID-19 pandemic.Few corporations have presented the well timed presented through VieMed Healthcare (TSX: VMD) (NASDAQ: VMD) this year.The corporate is one of the leading providers of house medical equipment, with a concentrate on fans.VieMed inventorys have surged since the inventory marketplace crash of past due winter and early spring.
In June, I talked about VieMed’s spring race.To date, stocks have risen 82% in 2020.Adjusted EBITDA increased 296% year-over-year to $16.3 million.ViMed projected net profits of between $31 million and $35 million in the third quarter.Forecasts a profit generation of $6.8 million to $9.8 million as a result of the pandemic.
VieMed has proven to be a fitness star after the previous market crash this year.Even without the crisis giving a boost, it’s a name that stays long-term.The newer shares had a favorable P/E ratio of 16.
Canadian Bank of the West is a Canadian regional bank.Its shares have risen to 15% in the last 3 months.The bank had a quarter of time in the face of headwinds against the primaries.Revenues increased 2% from last year to $214 million.
The last inventory had a highly desirable P/E ratio of 8 and a P/B price of 0.7.Canadian Western has a balance sheet and has recorded an expansion of dividends for more than 25 consecutive years.The last time announced a quarterly dividend of $0.29 consistent with share, a forged retracement of 4.8%.The fall in the previous inventory market provided an opportunity to climb western Canada to a minimum of 52 weeks.Fortunately, bank inventory is still undervalued today.
The post-market drop: 3 undervalued stocks to buy today made the first impression on The Motley Fool Canada.
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The fool contributor Ambrose O’Callaghan has no position in any of the movements mentioned.The Motley Fool owns stocks and recommends Polaris Infrastructure Inc.and Viemed Healthcare Inc.
Motley Fool’s purpose is to help the world invest better.Click here for your free subscription to Take Stock, The Motley Fool Canada’s loose investment newsletter.Full of concepts for action and investment tips, this reading is essential for anyone to create and grow their wealth in the years to come.Motley Fool Canada 2020