The following are 3 stocks that have fallen in price, but are worth holding during their journey back up. Motley Fool outlined 3 “fallen angels” that may give your portfolio wings.
Finisar (FNSR) is a fiber-optic company, and it is no secret the sector has been hit hard. However, orders from clients are up, but it might take some time for those sales to trickle down into the data. The company grew revenues 23% year over year and earnings per share rose $0.32, but management’s guidance was less than Wall Street expected. CEO Eitan Gertel said a decrease in sales of wireless tranceivers, slowing spending by carriers and “lumpy order patterns” were to blame, but said the problems should be resolved in the next quarter.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
Mueller (MLI) has seen its shares decline because it is levered to copper and other commodities that have fallen in price. Many might be wary of holding a cyclical play that is dependent on the economy for the long-term, but MLI has a solid business model. The company has diverse markets around the world to buffer against any shocks in specific regions. The stock is cheap, with a 12 multiple compared to its 12% growth rate.
FlyLeasing (FLY) is, as its name suggests, a company that leases airplanes. It reported an incredible 100% fleet utilization rate, with revenues from rentals rising 21% and profits tripling to $21.7 million from a year ago. The stock has a lofty 7% yield.
