Discover stocks that have fallen victim to tax-loss selling but still offer potential
- Stocks that have fallen victim to tax-loss selling but still look attractive
- Criteria for stocks on the screen: down at least 20% for the year or down 40% from Jan. 1, 2022
- Stocks must trade at a forward price/earnings multiple below their five-year averages
- Expected 2024 earnings per share growth in the top half of the Russell 3000
- Market capitalizations of $3 billion or greater
- Hasbro: down 27% this year, trades at just under 12 times expected EPS for the coming 12 months
- Match Group: down 23% for the year, trades at 14.7 times expected earnings per share for the coming 12 months
Despite the market rebound, there are still stocks that have been beaten down and are now considered bargains. Evercore has identified several companies, including Pfizer, Hasbro, and Newmont, that are worth considering at their current prices. These stocks have fallen victim to tax-loss selling, a strategy used by fund managers to reduce their portfolio’s total tax bill. However, not all fallen stocks are bargains, as some may continue to decline. Evercore screened for stocks that meet specific criteria, such as being down at least 20% for the year or down 40% from Jan. 1, 2022. The stocks must also trade at a forward price/earnings multiple below their five-year averages and have expected earnings per share growth in the top half of the Russell 3000. Additionally, the stocks must have market capitalizations of $3 billion or greater. Two notable stocks on the list are Hasbro and Match Group. Hasbro is down 27% this year and trades at just under 12 times expected EPS for the coming 12 months. Analysts expect 40% EPS growth in 2024 for Hasbro. Match Group is down 23% for the year and trades at 14.7 times expected earnings per share for the coming 12 months. Analysts expect 12% EPS growth in 2024 for Match Group. Consider these stocks for potential gains in the future.
Factuality Level: 7
Factuality Justification: The article provides information about stocks that have fallen victim to tax-loss selling and may be worth considering as potential investments. It includes specific criteria for selecting these stocks and provides analysis on their expected earnings growth and other factors. However, the article does not provide any counterarguments or potential risks associated with investing in these stocks, which could affect the overall factuality level.
Noise Level: 3
Noise Justification: The article provides information on stocks that have fallen victim to tax-loss selling and may be worth considering as potential buys. It includes criteria for selecting these stocks and provides analysis on specific companies like Hasbro and Match Group. However, the article lacks depth and doesn’t provide a comprehensive analysis of the overall market or potential risks associated with investing in these stocks.
Financial Relevance: Yes
Financial Markets Impacted: The article discusses stocks that have been impacted by tax-loss selling and provides recommendations for potential buys, including Pfizer, Hasbro, Newmont, Lazard, Block, Aptiv, and Bill Holdings.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article focuses on financial topics, specifically discussing stocks impacted by tax-loss selling and providing recommendations for potential buys. There is no mention of any extreme event or its impact.
Public Companies: Pfizer (PFE), Hasbro (HAS), Newmont (NEM), Lazard (LAZ), Block (BLK), Aptiv (APTV), Bill Holdings (BILL), Match Group (MTCH)
Key People:
Reported publicly:
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