Yahoo Finance 3 Roaring Stocks to Hold for the Next 20 Years
Written by Amy Legate-Wolfe at The Motley Fool Canada
If you’re looking for long-term growth, you’ve come to the right place. There are companies that have been around for 20 years and yet have at least another 20 years of surging growth ahead of them. Today, let’s take a look at three of them.
goeasy
First off, let’s look at major winner on the TSX today: goeasy (TSX:GSY). Shares of goeasy stock have been surging the last few years, and yet, it’s been around for decades! The loan and rent-to-own provider started out with home and appliance rentals. However, it’s since expanded.
The stock now offers growth from its massive loan portfolio. Quarter after quarter the company has seen record loan growth, and that doesn’t look to be slowing down. Whether it’s higher interest rates leaving Canadians looking for the best deal or lower interest rates creating more opportunities to take out loans, goeasy stock is on board.
So, with shares up 104% in the last year alone while still trading at 12.47 times earnings and a dividend yield of 2.59%, it’s certainly one to hold for the next 20 years.
Constellation Software
Another huge winner of the last while has been Constellation Software (TSX:CSU). This tech stock has been climbing for decades. In fact, there has been very little downward movement, even through incredibly volatile times.
This comes from CSU stock’s strong operations, which involve software acquisitions in niche markets. This allows the stock to corner these markets, providing pretty much the only option for essential software demand. Again, the company has proven its worth time and time again.
CSU stock has been around since the 1990s and, in that time, has climbed steadily. So, with shares up 32% in the last year, it’s another I would certainly pick up for more growth in the future.
Celestica
Finally, if you want another top growth stock, I would look into Celestica (TSX:CLS). Similarly to CSU stock, Celestica stock has been around for a while, and in that time, it has seen fairly stable growth. Yet in the last year, the company has surged in share price.
This comes from providing support to the semiconductor industry. The company is involved in electronics manufacturing services (EMS). It provides supply chain management and aftermarket services through a vast range of industries. This includes providing the manufacturing, assembly and testing of semiconductor-based products.
With the demand for semiconductors remaining at an all-time high and unlikely to come down, Celestica stock looks like a strong winner for investors today. Shares have rocketed up 314% in the last year alone. However, look back and there has been even more growth over the last few decades — all while trading at just 16.41 times earnings. So, it’s another company to consider for future growth.
Bottom line
It can be tempting to view growth stocks as companies that will eventually drop. Yet while these growth stocks might dip, I would argue over time they’ve proven their worth. And that makes them excellent options for long-term investors on the TSX today.
The post 3 Roaring Stocks to Hold for the Next 20 Years appeared first on The Motley Fool Canada.
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Fool contributor Amy Legate-Wolfe has positions in Goeasy. The Motley Fool recommends Constellation Software. The Motley Fool has a disclosure policy.
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