Yahoo Finance 2 TSX Hockey Stocks to Buy
Written by Daniel Da Costa at The Motley Fool Canada
Fall is here, the cold weather is starting to creep in again, and you know things are getting back to normal, because hockey is back. As our vaccination rates continue to climb, and we work to get our economy back to normal as much as we can, seeing sports back is a welcome sign. But you may be wondering, is there any way to take advantage of the return to hockey with high-quality TSX stocks?
It isn’t just the return of professional and semi-professional hockey; many youth and recreational hockey leagues have been able to return this year, as the economy continues to reopen and pick up steam. This will continue to create opportunities for investors in several sectors.
So, if you’re looking for TSX stocks that offer exposure to the reopening of the economy and the return of hockey, here are two top companies to consider today.
A top TSX media stock seeing a boost from the return of hockey
One of the first companies many Canadians likely think of when hockey comes to mind is Rogers Communications (TSX:RCI.B)(NYSE:RCI). Rogers is a massive telecommunications stock with a media division that’s one of the leaders in broadcasting sports across the country. The company will surely see a boost to its media division as viewership increases during hockey broadcasts.
Rogers has been growing its footprint in sports for years, making it one of the best TSX stocks to buy if you want exposure to the return of hockey. Not only does it broadcast numerous games for Canadian teams and owns 37.5% of the Toronto Maple Leafs, but it also has a deal with the CBC to simulcast Hockey Night in Canada as well as a deal with the NHL that gives it exclusive access to broadcast all the playoff games nationally across Canada.
And so, while the company will certainly see a boost to its revenue and earnings as we move back toward normalcy. In reality, though, the impact hockey would have on Rogers’s operations is still minimal. However, that doesn’t mean the stock is not worth a buy.
Telecom stocks are some of the best companies you can own. Rogers, for example, is well diversified, its services are essential, and it has a tonne of long-term growth potential, as 5G technology is being rolled out across the country. So, if you’re looking for a high-quality TSX to buy that has exposure to hockey, Rogers is one of the best companies to consider.
A top Canadian retail stock
In addition, another TSX stock that could see a boost to its earnings as hockey returns is one of Canada’s best retailers, Canadian Tire (TSX:CTC.A).
With youth sports returning to many regions after two years, tonnes of players are going to need new equipment they’ve grown out of since the last full hockey season. This is where Canadian Tire could see a boost. Not only does it sell hockey equipment in its stores, but it also owns Sport Chek, one of the best sports shops in Canada.
Again, though, Canadian Tire is such a massive company with well-diversified operations that the impact from a return to hockey will likely be minimal. But together with the return of all sports and a rapidly improving economy, Canadian Tire should continue the strong performance that it’s had since even before the pandemic began.
So, even though the return of hockey will likely only play a small role in helping to boost the TSX stock, it’s still one of the best companies you can buy for your portfolio today.
The post 2 TSX Hockey Stocks to Buy appeared first on The Motley Fool Canada.
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Fool contributor Daniel Da Costa has no position in any of the stocks mentioned. The Motley Fool recommends ROGERS COMMUNICATIONS INC. CL B NV.
2021
