Undervalued stocks are stocks that are trading below their intrinsic value. That is, they are trading at a price that is lower than the true value of the company. Investors often look for undervalued stocks because they believe that the market has incorrectly priced the stock and that it is therefore a good investment.
There are several ways to identify undervalued stocks, but one common method is to compare the stock’s price-to-earnings ratio to its growth rate. If the stock’s P/E ratio is lower than its growth rate, it may be undervalued. Undervalued stocks can be a good investment if you do your research and buy them at the right time. However, they can also be risky because there is no guarantee that the market will correct itself and the stock will go up in value. With that, let’s check out three top undervalued stocks to watch in the stock market now.
Undervalued Stocks To Watch Right Now
1. AT&T (T Stock)
AT&T Inc. (T) is one of the largest telecommunications companies in the world. It provides both wired and wireless services to customers in more than 200 countries. AT&T offers a wide range of services, including voice, data, and video. It also provides broadband Internet and television services to customers in the United States.
T Recent Stock News
This month, AT&T announced its third-quarter 2022 earnings results. Diving in, In Q3 2022 the company posted earnings of $0.68 per share, along with revenue of $30.0 billion. Meanwhile, Wall Street’s consensus estimate for the 3rd quarter of 2022 was earnings of $0.61 per share, along with revenue of $29.8 billion. In addition, AT&T also provided fiscal 2022 earnings guidance of $2.50 per share or higher.
John Stankey, AT&T CEO said, “We’re investing at record levels to enhance our 5G and fiber connectivity and to deliver the best experience available in the market. Our results show our strategy is resonating with customers as we continue to see robust levels of postpaid phone net adds and approach 1 million AT&T Fiber net adds for the year.“
T Stock Chart
Aside from that, the company currently has a P/E Ratio of 6.63 as of October 27, 2022. Meanwhile, shares of AT&T stock closed Friday’s trading session up 2.38% on the day, trading at $18.48 a share.
2. Pfizer (PFE Stock)
Pfizer Inc. (PFE) is an American pharmaceutical company. It is one of the world’s largest pharmaceutical companies. Today, Pfizer Inc produces a wide range of medicines and vaccines for humans and animals. In addition to its pharmaceutical products, Pfizer Inc also manufactures consumer healthcare products such as Advil, Centrum, and ChapStick.
PFE Recent Stock News
In recent news, Pfizer reported the completion of the acquisition of the biotechnology company, Global Blood Therapeutics (NASDAQ: GBT). Diving in, with this acquisition, Pfizer will add a portfolio and pipeline of sickle cell disease (SCD) treatments. Specifically, is Global Blood Therapeuetics’s Oxbryta® (voxelotor).
Oxbryta® is a first-in-class treatment that focuses on targeting the root source of sickle cell disease. Furthermore, the company said it completed the acquisition of GBT for $68.50 a share in cash, for an estimated total enterprise value of approximately $5.4 billion.
PFE Stock Chart
As of October 27, 2022, Pfizer’s PE ratio is 7.58. Next, as of Friday’s market close, shares of PFE stock closed green by 3.72% at $47.43 per share.
[Read More] 3 Cyber Security Stocks For Your Late-October 2022 Watchlist
3. Devon Energy Corp (DVN Stock)
Last but not least, Devon Energy Corporation (DVN) is an American oil and gas exploration and production company. Devon Energy is one of the largest independent oil and gas producers in North America. The company’s primary business is the exploration, development, production, marketing, and sale of oil and gas properties. Devon Energy also owns and operates a midstream business that transports, processes, stores, and markets crude oil and natural gas.
DVN Recent Stock News
In recent news, Devon Energy reported that it has completed its previously reported acquisition of Validus Energy, an Eagle Ford operator. Specifically, the deal is valued at a total cash consideration of approximately $1.8 billion. As a result, Devon Energy has added 42,000 net acres, adjacent to the company’s existing leasehold in the basin. What’s more, it provides the company with an estimated 35,000 Barrels of Oil Equivalent (BOE. Devon Energy also said it projects this to increase to an average daily Boe of 40,000 over the next twelve months.
Continuing on, last month, Devon Energy announced it will be reporting its third-quarter 2022 financial results. In detail, Devon Energy said it will be releasing its Q3 2022 results on Tuesday, November 1, 2022, after the market closes.
DVN Stock Chart
As of October 27, 2022, Devon Energy has a PE ratio of 10.88. While, on Friday, shares of Devon Energy stock closed the day at $76.01 a share.
If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!!
