The market is full of great value stocks to buy, yet they are often dismissed by investors. In fact, some of those great stocks can provide a healthy income in addition to their stellar growth potential.
Here’s a look at two of those great value stocks to buy right now.
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Have you considered Canadian Tire?
Canadian Tire Corporation (TSX:CTC.A) is often regarded as Canada’s retailer. In addition to its namesake brand, Canadian Tire boasts a growing number of labels that include apparel, sporting goods financial services, and even party supplies (to name just a few).
That diverse product line is just one reason why Canadian Tire can be seen as a great value stock to buy right now.
Another key point to note is Canadian Tire’s dividend. As of the time of writing, Canadian Tire boasts a quarterly dividend with an insane 4.9% yield. Part of the reason for that inflated yield can be traced back to the stock’s recent performance.
Specifically, Canadian Tire has dropped over 10% in the past month. This makes it a unique time to buy the stock at a discount.
Finally, another interesting point to note is something on the mind of all investors lately – tariffs. Canadian Tire does source some of its products from the U.S., and that number is approximately 15%.
Canadian Tire, like most Canadian retailers, is working diligently at alternative options to offset any potential tariffs. Still, the impact of potential tariffs still to come has impacted consumer confidence, and by extension, sales.
For prospective investors looking at some of the best value stocks to own, Canadian Tire is an appealing long-term option.
Look at this company’s growth outside of Canada
Another one of the best value stocks to own right now is Manulife Financial (TSX:MFC). Manulife is Canada’s largest insurer. That dominating presence in Canada has forced the company to look to foreign markets for growth in recent years.
It’s in those markets that prospective investors will note how lucrative an investment Manulife is right now. Manulife’s expansion into Asia, in particular, has helped the company post massive gains in recent years.
Specifically, Manulife sells its financial products in markets across Asia, targeting the wealth explosion in emerging economies throughout the region.
In other words, the strong growth potential in Asia works well to counter the mature and stable market in North America. This provides investors with ample growth opportunities in addition to a well-covered dividend.
That’s partly why Manulife’s stock has surged nearly 40% in the trailing 12-month period.
As of the time of writing, Manulife’s quarterly dividend pays out a respectable 3.8%, making it a solid buy-and-forget candidate for any portfolio.
Will you consider these top value stocks to buy?
No stock, even the most defensive is without some risk. That’s why the importance of diversifying your portfolio cannot be understated enough.
Fortunately, both Canadian Tire and Manulife offer investors significant growth and income-earning opportunities.
In my opinion, one or both of these stocks belong as part of any well-diversified portfolio.
