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Bargain hunters started moving back into oversold TSX dividend stocks in recent weeks. Pensioners looking for high-yield names to add to their self-directed Tax-Free Savings Account (TFSA) are wondering which stocks might still be undervalued and good to buy today.
BCE
BCE (TSX:BCE) is Canada’s largest communications company with a current market capitalization near $42 billion. The stock trades close to $46 at the time of writing. This is above the 12-week low near $44, but way off the $73 the stock fetched two years ago before the Bank of Canada started to aggressively raise interest rates.
Higher interest rates drive up borrowing costs for companies like BCE that have large capital programs. The company invests billions of dollars every year on network upgrades across its wireless and wireline segments. As debt expenses move higher, profits take a hit and less cash is potentially available for…
