The year-end tax-loss selling season can create great stock-market bargains, because it puts temporary downward pressure on stocks that have been weak during the year. But the best of the bunch can put on spectacular recoveries after the season ends on December 24.
One of these firms is Aastra Technologies (symbol AAH on Toronto). The company’s shares are down 37.9% from their 2010 high of $36.99.
Aastra develops and markets products and systems for accessing communication networks, including the Internet. Its technology is centred around business telephone systems, and includes products that integrate traditional and mobile phones.
The company’s shares are down on lower sales and earnings in the latest quarter, although it was the company’s 50th consecutive quarterly profit. Aastra gets 77% of its sales from Europe. The weaker European economy has hurt demand for the company’s products, and forced it to cut its prices. As well, the year-earlier quarter was unusually strong.
Aastra holds cash of $116.9 million, or $8.41 a share, and has no long-term debt. The shares yield a high 4.2%.
The company will need a sustained European economic recovery before it reports rising sales and earnings. Still, the stock trades at just 10.5 times the $1.80 a share that Aastra is forecast to earn next year.
Aastra is a tax-loss selling buy.
Tomorrow, December 28, 2010, we’ll feature another buy from our new free Christmas stocks report.
As a member of TSI Network, you may have already seen “Tax-Loss Selling: 7 Christmas Stocks That Could Give You Huge Gains in the New Year,” If you haven’t yet read this new free report, click here to download your copy today.
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