3 Dividend Stocks Trading Near Their 52-Week Lows
The markets are struggling of late as concerns surrounding the coronavirus outbreak have brought many stocks down. The good news for value-oriented dividend investors is that there could be some attractive buying opportunities as a result of this market weakness. Below are three dividend stocks that are now trading near their 52-week lows and that pay investors better than the 2% dividend yield they can get with an average S&P 500 stock:
Pfizer (NYSE: PFE) is down more than 17% over the past 12 months, compared to the positive 8.5% returns investors would have earned holding the average S&P 500 stock. Pfizer was moving in line with the index until July, when things started to fall apart after it announced an underwhelming second-quarter earnings result, and that it would be divesting from Upjohn, which has its portfolio of off-patent drugs.
While the company still has many drugs in its portfolio and worldwide sales, investors remain unconvinced about the strength of the drug manufacturer's future growth -- which is why the stock's failed to get back to the level it was before the earnings/divestment announcement.
Source Fool.com
