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Millennials: 3 Canadian Stocks to Hold for Decades

Ambrose O'Callaghan
·4 min read
Portrait of woman having fun in the street.
Portrait of woman having fun in the street.

Written by Ambrose O'Callaghan at The Motley Fool Canada

Millennials investors have been fortunate to experience one of the longest bull markets in history right when most of the generation was just entering the workforce. However, millennials have also been forced to contend with historical crises like the Great Recession and the COVID-19 pandemic. Today, I want to look at three Canadian stocks that this generation can trust for the 2020s and beyond. Let’s dive in.

Millennials should look to stash this dividend stock that is poised for steady growth

Savaria (TSX:SIS) is a Laval-based company that provides accessibility solutions for the elderly and physically challenged peoples in Canada and around the world. Shares of this Canadian stock have climbed 37% in 2021 as of early afternoon trading on November 19. The stock is up 49% in the year-over-year period.

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Millennials should be eager to get in on the accessibility market, especially considering the aging population in the developed world. In 2019, Allied Market Research projected that the global elderly- and disabled-assistive devices market would grow to $35.6 billion by 2026. This would represent a CAGR of 5.5% over the forecast period dating back to 2019.

In Q3 2021, Savaria delivered revenue growth of 99% to $180 million. Meanwhile, adjusted EBITDA increased 55% to $26.3 million. Moreover, revenue and adjusted EBITDA have delivered growth of 78% and 62%, respectively, for the first nine months of 2021. This Canadian stock is trading in favourable value territory relative to its industry peers. It offers a monthly dividend of $0.042 per share, which represents a 2.5% yield.

Here’s another Canadian stock geared up for the future

Jamieson Wellness (TSX:JWEL) is a Toronto-based company that develops, manufactures, distributes, and sells natural health products in Canada and internationally. This Canadian stock has increased 8.1% in the year-to-date period. Meanwhile, its shares have climbed 13% year over year.

The natural health products and supplements market is also set to receive a boost from aging demographics. Indeed, Jamieson management held this up as a strong point when it launched its IPO in 2017. Last year, Grand View Research forecast that the global dietary supplements market would deliver a CAGR of 8.6% from 2021 through to 2028.

Jamieson unveiled its third-quarter 2021 earnings on November 4. Revenue rose 6.4% year over year to $112 million in Q3 2021. Meanwhile, adjusted EBITDA increased 11% to $25.5 million. Moreover, the company bolstered its outlook for fiscal 2021.

Millennials should look to stash this Canadian stock for the long haul. Moreover, it offers a quarterly dividend of $0.15 per share. That represents a modest 1.5% yield.

Bet on automation with this promising Canadian stock

ATS Automation (TSX:ATA) is the third Canadian stock I’d suggest for millennials in late November. The company provides automation solutions to a global client base. Its shares have shot up 122% in 2021. Moreover, the stock is up 144% year over year.

Last year, Fortune Business Insights projected that the global industrial automation market would reach US$335 billion in 2028. That would represent a CAGR of 9.2% over the 2021-2028 forecast period.

In Q2 fiscal 2022, ATS Automation posted revenue growth of 55% to $522 million. Meanwhile, adjusted EBITDA nearly doubled to $83.3 million. Its Order Backlog also jumped 35% to $1.29 billion. ATS Automation stock is trading in solid value territory compared to its competitors. Millennials should jump on this Canadian stock to gain exposure to automation this decade and beyond.

The post Millennials: 3 Canadian Stocks to Hold for Decades appeared first on The Motley Fool Canada.

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Fool contributor Ambrose O'Callaghan has no position in any of the stocks mentioned. The Motley Fool recommends Savaria Corp.

2021