3 Top Stocks That Just Went on Sale
Shares of Walgreens Boots Alliance (NASDAQ: WBA), Bristol Myers Squibb (NYSE: BMY) and Dominion Energy (NYSE: D) all recently saw 52-week lows.
The drops were not without reason. Walgreens, like other pharmacy stocks, has seen earnings decline as foot traffic in stores has fallen. Pharmaceutical company Bristol Myers Squibb is facing increasing generic competition for its former top-selling oncology drug Relivimid, and has seen revenue decline. Virginia-based utility Dominion Energy had declining earnings in 2022 as demand for electricity fell because of the increasing energy efficiency of appliances and lighting.
However, all three companies are great long-term value stocks with above-average dividends. That means they're on sale right now, with forward price-to-earnings ratios (P/E) of 14 or below, due mostly to short-term macroeconomic conditions. All three deserve second looks.
Source Fool.com
