BUY STOCKS ON THE CHEAP I
n a richly valued stock market, bargains are welcome. Even with the S&P 500 backing off its record high, the broad-market benchmark still sports a price-earnings ratio, based on estimated earnings for the 12 months ahead, of 20.2. That's above the five-year average of 19.1 and the 10-year average of 17.8. We went looking for stocks trading at below-market P/Es but with robust earnings growth trajectories, highquality financials and overall bullish recommendations from Wall Street analysts. Here are two to explore. (Prices are as of April 30.)
Ameriprise Financial (symbol AMP, $412). This financial services company provides an array of products and services to individual and professional investors. The stock trades at a P/E of 11.5 (slightly below the industry average of 12.2, according to Zacks Investment Research), and analysts peg earnings growth at 21% in 2024 and 9% in 2025, according to S&P Capital IQ. A bear market would be bad news for Ameriprise, denting fee income. But with about $1.4 trillion in assets under management and advisement and around 10,000 financial advisers at the end of 2023, "Ameriprise Financial has transformed itself into an investment management powerhouse," says Morningstar analyst Michael Wong. Wall Street analysts see the stock at $461 over the next 12 to 18 months.
この記事は Kiplinger's Personal Finance の July 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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この記事は Kiplinger's Personal Finance の July 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
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