If you’ve been reading my articles for a while, you’ll see I come back to a few stocks again, and again, and again. There’s a reason for this. In case you missed it, I want to make darn sure you’ve heard of these TSX stocks. Why? Because right now they offer a huge deal for substantial long-term income!
The long-term part here is key. Investors should not look at these share prices and see the potential to fall further. For select TSX stocks, they should look at these share prices and see a deal. A bargain. A fire sale. That makes them no-brainer buys in this current market.
So if you have some cash on hand, then these are the three TSX stocks I would consider time and time again.
While Nutrien (TSX:NTR)(NYSE:NTR) may not be that old, it’s made huge headway in the last few years. And no, it’s certainly not just because of sanctions placed on Russia. Nutrien stock provides crop nutrients to the world over, and that’s increasingly important with less arable land. With Russia out of the picture for many countries, Nutrien stock will benefit. However, it has more going for it than that.
Nutrien stock also continues to consolidate a fractured farming industry. It now offers e-commerce options as well, expanding into e-sales during the pandemic at a time farmers needed it most. The sustainable crop solutions provider has seen record revenue, and is now reaping the rewards.
So sure, Nutrien stock is down 21% from 52-week highs. However, it’s still up 20.4% year to date! At these prices, then, I would still consider Nutrien stock, and pick it up while it trades at just 6.6 times earnings, and a 2.34% dividend yield.
I’ve also come back to BCE stock again and again, and that’s because of all the telecommunications companies, it’s the largest. It holds 60% of the market share right now, and that only continues to grow. That’s due to the company rolling out its 5G network and its fibre-to-the-home network. This has provided it with the fastest internet service in Canada!
At a time when many Canadians continue to work at least partially from home, this couldn’t be more important. And it’s why the company has managed to continue to beat our earnings estimates in recent quarters as well.
Yet again, shares are down 4% year to date, and 15.5% since 52-week highs. Even so, this is a great time to come in as the stock continues to rebound, up 7.5% in the last two weeks alone. But again, you’re investing in BCE stock for the long term. So I would lock in the 6.16% dividend yield and hold on until you have to let go.
Finally, Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) is one of my favourite choices by far. That’s because it provides protection in several ways. While shares may fall during a recession, those shares climb back to pre-fall prices within a year practically every time! Look at the history if you don’t believe me!
Beyond that, it also provides protection through provisions for loan losses. During this time when high interest rates lead to lower loans, CIBC stock is prepared. So it can continue to create growth opportunities, while also feeding into its 5.53% dividend yield.
But are you ready for the best news? It’s super cheap. I mean that in every sense. Shares are down 14% year to date as of writing, trading at 8.8 times earnings. Plus, of the Big Six Banks it has the cheapest share price since its stock split!
These three TSX stocks are solid choices for any investor. I really mean that. You can look forward to growth for years from these titans of their industries. Plus, each offers a substantial dividend yield you can lock in today.