North American markets have battled turbulence since the spring season. Inflation has erupted in 2022, spurring central banks to commit to a rate-tightening path that has spooked investors. This has led to a correction in the housing sector while the stock market has remained choppy. Today, I want to look at three TSX stocks that I currently own and would look to add more of in the event of a market crash. Let’s jump in.
I’m looking to stack this TSX stock for the long haul
Jamieson Wellness (TSX: JWEL) is a Toronto-based company that develops, manufactures, distributes, markets, and sells natural health products in Canada and around the world. This TSX stock has been one of my top targets since its initial public offering (IPO) back in the summer of 2017. At the time, its leadership boasted that demographic trends would support the growth of the nutrition and supplements industry for years to come.
Shares of Jamieson have dropped 4.2% in 2022 as of close on August 19. However, the stock has shot up 8.2% in the month-over-month period. It unveiled its second-quarter (Q2) fiscal 2022 earnings on August 4. Jamieson delivered solid revenue growth of 6.5% to $112 million. Meanwhile, adjusted net earnings rose 11% to $13.4 million and adjusted diluted earnings per share jumped 10% to $0.32.
This stock illustrated why it is wise to buy the dips earlier this year. It still possesses a solid price-to-earnings (P/E) ratio of 29 at the time of this writing. Moreover, it offers a quarterly dividend of $0.17. That represents a modest 1.7% yield.
A stock market crash is a signal to add this profit machine at a discount
National Bank (TSX: NA) is the smallest of the Big Six Canadian banks. Despite that, it remains a reliable profit machine that investors can rely on for the long haul. That is why I’ve sought to own National Bank in recent years. This bank is also a behemoth in its home province of Quebec. Shares of this top TSX stock have dropped 5% in the year-to-date period. However, the stock has jumped 5.9% over the past month.
Investors can expect to see the bank’s next batch of results on August 24. In the first six months of 2022, National Bank delivered net income growth of 17% to $1.82 billion, while diluted earnings per share rose 18% to $5.19.
Shares of this TSX stock last had a favourable P/E ratio of 9.6. It currently offers a quarterly dividend of $0.92 per share, which represents a 3.9% yield.
Here’s another TSX stock I’d snag on the dip
Nuvei (TSX: NVEI)(NASDAQ: NVEI) is a TSX stock I’ve targeted since its debut on the TSX Index in September 2020. It proved to be one of the most explosive stocks during the COVID-19 pandemic. However, its shares have fallen sharply since hitting an all-time high in September 2021. Regardless, I’m still interested in seeking exposure to the payment technology solutions space.
This TSX stock has dropped 48% in 2022. It released its second-quarter 2022 results on August 9. Revenue rose 19% to $211 million and adjusted net income jumped 16% to $74.7 million. Shares of this tech stock are trading in attractive value territory relative to its industry peers.
