![]() ![]() The market for Treasury bills, notes and bonds is larger and more liquid than any other. Treasury bonds have maturities of 20 to 30 years. Treasury notes come in maturities of two and 10 years. ![]() Treasury bills, commonly known as T-bills, have maturities of four, eight, 13, 26 and 52 weeks. Government bonds offer fixed terms and fixed interest rates. That’s because they are backed by the full faith and credit of the U.S. Treasury securities are considered to be about the safest investments on earth. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.U.S. On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. Given Denny’s wide-ranging menu and many breakfast choices, I believe that it can serve as a “diner substitute” for these migrants.ĭENN stock has a low forward price-earnings ratio of 17, making it one of the best blue-chip stocks under $15. Specifically, I believe that Denny’s is benefiting from the migration of many Americans from the Northeast, where diners are prevalent, to the South, where there are many fewer diners. The company’s strong Q1 results and upbeat guidance increase my confidence in my positive thesis on Denny’s, which I described in a previous column. Additionally, Denny’s expects to generate EBITDA, excluding some items, of $86 million to $90 million. same-restaurant sales increase of 3%-6% and the opening of 35-45 new restaurants. same-restaurant sales jumped 8.4% versus the same period a year earlier, and its operating income climbed to $16.1 million from $13.3 in Q1 of 2022.ĭenny’s reiterated its previous 2023 guidance, which calls for a U.S. Additionally, the firm reported that in May, Macy’s “same-store sales accelerated from April across all banners with a notable recovery in the…seasonal parts of the company’s business.”Īlso noteworthy is that according to Gordon Haskett, Macy’s “less weather sensitive categories.have remained healthy since February.”ĭenny’s (NYSE: DENN ) reported strong first-quarter results on May 2, as its U.S. Research firm Gordon Haskett was also bullish on M stock in the wake of its Q1 results, which upgraded the shares to “buy,” citing valuation. What’s more, I expect the retailer to benefit from consumers’ increased spending on goods starting later this year. However, as I mentioned earlier, its valuation is still extremely attractive. The company cut its full-year sales guidance slightly and lowered its adjusted EPS guidance range to $2.70 to $3.20 from $3.67 to $4.11. Macy’s (NYSE: M ) stock is priced for disaster, as its forward price-earnings ratio is a tiny 4.7, and its price-sales ratio is an infinitesimal 0.16.Īnd while its comparable sales did sink 7.2% last quarter, that’s far from a disaster, as it still managed to generate earnings per share, excluding certain items, of 56 cents. Specifically, I define “blue chip” as firms that are among the leaders of their sectors and that are profitable or are poised to enter the black within the next year or two. Importantly, I used my usual definition of “ blue-chip stocks,” which is perhaps somewhat atypical for this column. And although the bears like to talk about “deteriorating consumer balance sheets” and “exploding credit card debt,” the fact is that, according to the Fed, the ratio of household debt to GDP at the end of last year was 76%, versus 78% at the end of 2018. The biggest reason I believe that a recession is not in the cards is the great condition of the labor market, which remains very strong according to the most recent data. ![]() Given the huge pullbacks that these names underwent, there are plenty of affordable blue-chip stocks under $15 to buy. ![]() In the last 18 months, many high-quality stocks took huge hits as investors waited for the recession that hasn’t come and that, in my opinion, will not arrive any time soon. ![]()
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