Value stocks refer to stocks of companies that are perceived to be undervalued by the market. These companies are often well-established and have a strong financial position. But for various reasons, their stock price has not kept pace with their fundamental value. As such, value stocks often fall in the category of being a bargain by investors who believe that the company is undervalued.
The performance of value stocks is closely tied to the overall health of the economy. This comes as these companies are often cyclical and rely on strong economic conditions to perform well. Additionally, value stocks may benefit from a potential market correction or economic slowdown, as investors seek out safer and more stable investments.
Investing in value stocks requires a thorough understanding of the individual company’s financials, market position, and industry dynamics. It’s important to evaluate factors such as earnings, cash flow, and valuation metrics such as price-to-earnings and price-to-book ratios. Additionally, diversification is key. Considering all of this, here are two undervalued names to watch in the stock market today.
Value Stocks To Watch Right Now
- Micron Technology Inc. (NASDAQ: MU)
- The Procter & Gamble Company (NYSE: PG)
Micron Technologies (MU Stock)
Leading off, Micron Technology Inc. (MU) is a leading producer of memory chips used in computers, smartphones, and other electronic devices. The company is known for its high-quality products and advanced manufacturing capabilities, which have allowed it to become one of the largest memory chip manufacturers in the world.
Last month, Micron Technology announced that it will report its second quarter 2023 financial results this week Tuesday, March 28, 2023. The results will be released after the U.S. stock market closes. To quickly recap, in the Q1 2023 report, MU said that it estimated a second-quarter loss of $0.72 to $0.52 with revenue estimates of $3.60 billion to $4.00 billion.
Since the start of 2023, shares of MU stock have jumped by 20.13% year-to-date. Meanwhile, during Monday’s afternoon trading session, MU stock is trading at $60.50 a share.
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Procter & Gamble Company (PG Stock)
Next, The Procter & Gamble Company (PG) is a multinational consumer goods company that produces and markets a wide range of household and personal care products. The company’s brands include household names such as Tide, Crest, and Pampers.
Just last week, Procter & Gamble Co. announced the date they will release its third quarter 2023 financial results. In detail, the company is set to release its Q3 2023 earnings results on Friday, April 21, 2023, ahead of the U.S. stock market opening. In the previous quarter, the company reported earnings of $1.59 per share and revenue of $20.8 billion.
Year-to-date, shares of PG stock are down 3.37% so far. Meanwhile, in the last month of trading PG stock has rallied by 5.25%. Moreover, on Monday afternoon, shares of Procter & Gamble Co. stock are trading at $146.50 a share.
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