With inflation and now higher interest rates impacting many Canadians’ budgets, it may be more difficult to save money that you can put away to invest. However, if you can manage to continue saving money, or have some cash lying around, now is one of the best times to buy TSX stocks while many are ultra-cheap.
Even as little as $1,000 can go a long way, especially if you’re planning to buy and hold these stocks for the long haul. So, if you’ve got some cash you’re looking to invest in this opportune market environment, here are two simple TSX stocks to buy now.
One of the simplest stocks on the TSX to buy and hold for the long haul
If you’re looking for simple TSX stocks to buy now and some that also offer attractive discounts, there may not be a better stock to consider than Pizza Pizza Royalties (TSX:PZA).
Pizza Pizza Royalties business is incredibly easy to understand. Furthermore, its financial statements are also extremely simple to read due to its straightforward operations.
Rather than owning or managing its restaurants, the stock simply collects a royalty from each of its restaurants across the country based on their level of sales.
To some degree, the profitability of the individual restaurants is important because if they all go out of business, there’s none left to pay royalties. However, in general, investors are really only concerned with the level of sales all the Pizza Pizza, and Pizza 73 locations do across the country.
And because these sales typically don’t fluctuate much, along with the fact that Pizza Pizza is a well-known brand and considered a lower-cost option when eating out, it’s a simple stock that should be able to weather the storm in the current market environment.
Therefore, with Pizza Pizza trading at a compelling discount and offering a dividend yield of roughly 6.4% after just increasing its payout last month, there’s no question that it’s one of the best and simplest TSX stocks that you can buy now.
A top Canadian telecom stock that’s perfect for long-term investors
In addition to Pizza Pizza, another one of the best and simplest TSX stocks to buy now is the blue-chip telecom stock BCE (TSX:BCE)(NYSE:BCE).
BCE is a well-known company across Canada. It’s the parent company of Bell. And BCE’s businesses are pretty straightforward. Its wirelines segment offers services such as TV, home internet, and phone. It also, of course, has a wireless segment.
And on top of those telecommunications segments, BCE also has its own media segment, including specialty TV channels, sports channels, and its own streaming service, in addition to the fact that it produces some of its own content.
The most important segments are wireline and wireless, though. First off, they are essential and, therefore, highly defensive. In addition, they are the two largest segments by far. Furthermore, many of the assets BCE owns in these segments, such as 5G towers and cable lines in the ground, are long-life assets that constantly earn the company tremendous cash flow.
That’s why it’s such a simple but also an excellent company to buy and hold for the long run. Plus, because of its high-quality and resilient operations, BCE is constantly increasing its dividend, which already has an impressive yield of 5.8% today.
Therefore, if you’re looking for some of the best TSX stocks to buy now, BCE’s business is quite simple and incredibly attractive if you’re a long-term investor.
