Q3 earnings season is almost upon us, as the big banks are set to officially kick-off the season in mid-October. Many investors are keeping a watchful eye on this upcoming earnings season for any indication of what may lie ahead in the economic picture of the US and abroad. With many market watchers gauging an economic downturn in the near future, investors are searching for solid stocks that can fortify their portfolio against rough economic climates. Let’s take a look at three dividend stocks that can help bolster a portfolio in the closing months of the year.
City Office REIT(CIO - Free Report) is a solid move to make for someone looking to cash in on dividend payouts. The office property REIT boasts a hefty 6.54% dividend yield and beta ratio of 0.42, making it a stock that can quell any jitters investors may feel about broader market implications. City Office shares have been on a tear in 2019. The stock is up 40.1% YTD, outperforming the broader REIT market’s 24.6% gain.
Our current quarter consensus estimates forecast the company’s FFO to jump 7.14% to $0.30 per share and revenue to climb 17.72% to $39.49 million. Earning revisions have trended higher for the firm, giving CIO a Zacks Rank #1 (Strong Buy).
L3Harris Technologies(LHX - Free Report) is an aerospace company that sports a solid 1.44% dividend yield that has steadily risen over the past five years. The aerospace giant’s shares have surged 56.2% in 2019 thus far, easily outpacing the aerospace market’s 29.6% gain. Our current quarter consensus estimates are projecting for sales to skyrocket 186.02% to $4.41 billion and for earnings to climb 29.78% to $2.31 per share.
Superb Y/Y sales growth is anticipated to continue in the next quarter with consensus estimates forecasting revenue to surge 184.88% to $4.75 billion and for earnings to hike 22.45% to $2.40. Estimates have been revised higher over the past 90-days, earning LHX a Zacks Rank #1 (Strong Buy).
National Fuel Gas Company(NFG - Free Report) is a utility stock with a sound 3.7% dividend yield and 0.76 beta ratio. Many investors flock to utility stocks in times of uncertainty as they are seen as safe investments because the demand for their services doesn’t fluctuate with broader market trends. Current quarter estimates anticipate earnings to come in at $0.63 per share and sales to hit $323.24 million, representing Y/Y gains of 28.57% and 11.77%, respectively. NFG sports a Zacks Rank #1 (Strong Buy) with a Style Score of B in Value.
The stock is currently trading at 13X its forward earnings, which is well below the industry average of 23X forward earnings. The stock’s discounted forward multiple provides a solid entry point for those looking to get into a safety stock early before flocks of investors pour into utilities and inflate their valuation.
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