The TSX today, and indeed markets around the world, have been eyeing up companies that might be on the way to huge success in the future. It’s why we’ve seen such volatility in the last few months. Year to date, there have been companies that have soared up as well as plunged by double digits after earnings or news breaks.
But today, we’re focusing on some companies seeing stable and really just incredibly high growth. In fact, all three of these stocks on the TSX today have hit their all-time highs! Let’s look at why.
Bird Construction
Bird Construction (TSX: BDT) has been performing well not just when compared to its own industry but with the broader market as well. The company has hit all-time highs, up 89% in the last year alone as of writing.
Of course, there are a few reasons for this. But the most glaring is earnings. BDT stock will report its full-year earnings in March. However, in the meantime, it saw immense 2022 earnings that we can look back on. The stock reported revenue growth of 7.1% compared to 2021 levels, with earnings up 16.55%. This reached $49.86 million for the year. This likely helped the company see the growth we’ve noticed over the last year.
Analysts now believe that BDT stock is set to see earnings growth of 22.27% per year for the next few years. And with exposure to various sectors, including industrial, commercial, and institutional, this provides diversification and reduces single market risk. It also provides maintenance and repair services for construction. So, with so many revenue streams and a dividend yield at 3.29%, it looks like a solid stock to consider, even at all-time highs.
Dollarama
Another company not just hitting but climbing past all-time highs is Dollarama (TSX: DOL). Dollarama stock has been doing quite well even through the pandemic and higher inflation and interest rates stages. The discount retailer has seen shares trade up 40% in the last year alone, now passing the three-digit mark.
The company has stated in the past that it’s able to grow no matter the market. During a downturn, Canadians seek out lower-cost items. During a bull market, Canadians have cash to spend and again will seek out Dollarama stock for other items.
What’s more, it holds a solid growth strategy, consistently expanding through same-store sales as well as new locations. This resilient business model has kept it strong, and allowed the stock to even expand outside of Canada through acquisitions. This alone could continue to see shares climb even higher.
North West Company
Finally, North West Company (TSX: NWC) has also been outpacing the market. Shares are currently up 16% in the last year, hitting all-time highs. And that’s saying something, given that the retail stock operates amongst others who are hit hard by inflation.
The company has long been a defensive play, providing a niche market by serving remote northern communities in Canada and other countries. This provides a natural economic moat and makes the company less susceptible to downturns. After all, what are you going to do if that store is the only one in town?
The company continued to see strong financials, with a history of consistent profitability throughout this year. Management now sees the company delivering a focus on long-term growth, with earnings per share growth hitting around 13.2% over the next few years. And again, with a nice 3.8% dividend, this stock could get you far.
