As I start looking to invest again, I'm a little overwhelmed by the number of really cheap stocks available at this time - but also excited.
In this post I'm going to jot down a few notes on the stocks I've found - simply as a to-do list of stocks to investigate. This is based on a list I got from the MSN Deluxe stock screener (see previous post).
Screen
Roughly: FP/E < 10, Yld > 4%, Debt/Equity < 20%, P/B < 1.
I'm ignoring financial stocks for now, as these are something of a special case.
Stocks
SAY - Satyam Computer Services - Indian based consultancy.
FPE = 1, P/B = 0.28
Price has crashed in the last couple of months. A brief skim of the news suggests they're raising more money, and that there's some sort of fraud/legal investigation ongoing. May still be a bargain, but clearly there are reasons for the ridiculous price.
PDS - Precision Drilling Trust - Oil and Gas equipment
FPE = 2.3, Yield > 17%
Latest news suggests that my debt stats are incorrect, as they're trying and failing to issue debt to raise more money - perhaps to finance a recent acquisition. Again - doesn't look like a conservative pick.
ERF - Enerplus Resources - another oil and gas exploration
FPE = 3.5 (per MSN - more like 8 in reality), yield 12%
Nothing untoward here, other than typical economic woes due to falling oil and gas prices. Worth further investigation.
PAC - Pacific Airport ADR - own airports and other properties in Mexico
FPE = 6.9, P/B = 0.49. No debt.
No disasters here. Worth further investigation.
ELY - Callaway Golf Co - Makes and sells golf clubs and other accessories
FPE = 8.6. Generally cheap, but nothing spectacular.
Worth further investigation - simple business.
WES - Western Gas Partners - gas pipelines, processes and transports gas in USA.
FPE = 9. P/B = 0.5 Yield = 9.3%
Worth further investigation - has long term contracts, so may not be hit by falling gas prices particularly.
ANF - Abercrombie and Fitch - clothing retailer
Just qualified under my filter. Not particularly cheap. I don't like them because they're trendy and I'm not! :-) Maybe investigate.
RDS.A - Royal Dutch & Shell: A shares - gas again
Huge company, that I've owned (profitably) before (which is irrelevant). P/B is slightly over 1, but P/E is 6, and yield is 7.5%. Worth looking at - obviously need to figure out what the A shares are.
SNY - French pharmaceutical company
Generally cheap - FP/E of 7.
No crisis. Worth investigating.
EBF - Ennis, Inc - sells business forms, and T-shirts... ?!
Smaller than other companies. FP/E 5.4, Yield 8.3%.
Worth investigating.
For further investigation:
ERF, PAC, ELY, WES, RDS.A, EBF, SNY, ANF
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