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Shuda Xia
Shuda Xia
Articles (377) 

Stocks That Fell to 3-Year Lows in the Week of July 31

HSBC Holdings, Lloyds Banking Group, Canon and ORIX Corp present buying opportunities

August 01, 2020 | About:

HSBC Holdings PLC (NYSE:HSBC), Lloyds Banking Group PLC (NYSE:LYG), Canon Inc. (NYSE:CAJ) and ORIX Corp. (NYSE:IX) have reached their three-year lows.

HSBC Holdings declined to $22.65

The price of HSBC Holdings shares declined to $22.65 on July 31, which is only 1.4% above the three-year low of $22.34.

HSBC is a British international financial services holding company. As of December 2018, it is the largest bank in Europe with total assets of $2.558 trillion. The company has around 3,900 offices in 67 countries and around 38 million customers. The company is also a component of the FTSE 100.

HSBC has a market cap of $91.41 billion; its shares were traded around $22.65 with and price-sales ratio of 6.56. The trailing 12-month dividend yield is 4.41%.

On July 29, HSBC Holdings announced the company has partnered with the Asian Development Bank to establish a supply chain financing program to support companies providing Covid-19-related supplies. The agreement could enable up to $1.2 billion per annum of additional trade by Asian small and medium-size enterprises. HSBC has already mapped over 10,000 critical suppliers with the Asian Development Bank.

Lloyds Banking Group declined to $1.32

The price of Lloyds Banking Group shares declined to $1.32 on July 31, which is only 3.8% above the three-year low of $1.27.

Lloyds Banking is a British international financial services company that was formed by the acquisition of HBOS by Lloyds TSB in 2009. The company’s activities are organized into various sectors, including retail banking, commercial, insurance and pensions.

The bank has a market cap of $23.35 billion; its shares were traded around $1.32 with a price-earnings ratio of 13.49 and a price-sales ratio of 0.31. The trailing 12-month dividend yield is 4.21%.

On July 22, Lloyds Banking Group announced a strategic partnership with Form3, a payment technology company that focuses on simplifying payment architecture capabilities. The partnership will allow Lloyds to investigate and develop a cloud-native payments-as-a-service platform to improve the group’s payment processes. To support the partnership, Lloyds has also acquired a minority equity stake in Form 3 as part of its next investment round, which is expected to complete in August.

Canon declined to $16.17

The price of Canon shares declined to $16.17 on July 31, which is only 0.4% above the three-year low of $16.10.

Canon is a Japanese company focusing on the manufacture of imaging and optical products. Some of the company’s products include cameras, camcorders, photocopiers, steppers and computer printers. The company has a primary listing on the Tokyo Stock Exchange and a secondary listing on the New York Stock Exchange. The company is also a component of the TOPIX Core 30.

Canon has a market cap of $16.91 billion; its shares were traded around $16.17 with a price-earnings ratio of 25.05 and a price-sales ratio of 0.55. The trailing 12-month dividend yield is 9.25%. The forward dividend yield is 9.25%.

On July 31, Canon announced that in the first half of 2020, it has used the Amazon Reporting Tool or letters of inquiry to remove 79 listings from Amazon in Australia. The listings offered third-party laser toner cartridges, which the company believes infringed one or more Australian patents.

ORIX declined to $53.99

The price of ORIX shares declined to $53.99 on July 31, which is only 2.5% above the three-year low of $52.65.

Orix has a market cap of $13.47 billion; its shares were traded around $53.99 with a price-earnings ratio of 4.82 and a price-sales ratio of 1.09. The trailing 12-month dividend yield is 6.53%. The forward dividend yield is 6.53%.

The Japanese financial company offers a diverse set of services, including leasing, lending, rentals, life insurance, real estate financing and development and retail banking. The company offers financial services in North America, Asia, the Middle East and Northern Africa.

On June 29, ORIX announced it has filed a report with the Director-General of the Kanto Financial Bureau in Japan concerning the results of the exercise of voting rights at the 57th General Meeting of Shareholders held on June 26. The report resolved the election of 12 directors as members of the board of directors.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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