So, you’ve got $30,000 burning a hole in your pocket and you’re eyeing the Canadian stock market? Well, today let’s chat about three mid-cap gems that might just make your investment journey a tad more exciting. Those top Canadian stocks being Cargojet (TSX:CJT), Exchange Income (TSX:EIF), and goeasy (TSX:GSY).
Cargojet
Cargojet is Canada’s leading provider of time-sensitive overnight air cargo services. This company ensures your packages arrive on time, even if that means braving a snowstorm or two.
In its latest earnings report, Cargojet delivered some impressive numbers. The Canadian stock reported revenues of $293.2 million for Q4 2024, surpassing analyst expectations of $273 million. Even more striking were earnings per share (EPS) of $4.41, significantly higher than the anticipated $1.61. This robust performance highlights Cargojet’s resilience and operational efficiency in the competitive air cargo industry.
Looking ahead, Cargojet seems well-positioned to capitalize on the growing e-commerce sector. With online shopping showing no signs of slowing down, the demand for reliable air cargo services is set to rise. Plus, with a forward dividend of $1.40 yielding 1.4%, investors can enjoy a bit of income while watching their investment potentially take flight.
Exchange Income
Next up is Exchange Income, a diversified acquisition-oriented company focused on sectors like aviation and manufacturing. If you’re into a mix of steady industries, EIF might just be your cup of tea.
EIF has historically maintained a strong financial footing. The Canadian stock’s diversified portfolio often acts as a buffer against sector-specific downturns, providing stability to investors. And again, working within a stable sector, often backed by government contracts, EIF stock certainly doesn’t show any signs of slowing.
With a forward annual dividend rate of $2.64, yielding a solid 5.2%, EIF offers investors a steady income stream. This makes it particularly appealing for those seeking both growth and income in their portfolios.
goeasy
Lastly, let’s talk about goeasy, a Canadian stock that provides non-prime leasing and lending services. Essentially, the company offers financial products to consumers who might not qualify for traditional bank loans — a niche market with substantial growth potential.
The Canadian stock recently reported record results for the fourth quarter and full year of 2024. Its loan portfolio grew by 26% to $4.6 billion, up from $3.7 billion. Quarterly revenue also saw a 20% increase, reaching $405 million compared to $338 million in the previous year.
The Canadian stock’s forward dividend stands at $5.84, yielding 3.6%. With a one-year target estimate of $239.89, analysts seem optimistic about goeasy’s growth trajectory, especially now with a new CEO on board. These dynamics make now an excellent time to buy.
Bottom line
Investing in these three Canadian stocks could provide a balanced mix of growth potential and income. Cargojet offers exposure to the booming e-commerce and logistics sector. Exchange Income provides diversification across stable industries. Finally, goeasy taps into the non-prime lending market, which has been underserved by traditional banks.
Before making any investment decisions, it’s crucial to conduct thorough research and consider consulting with a financial advisor. The stock market has its ups and downs, but with informed choices, your $30,000 could be well on its way to working for you.
