Yahoo Finance Navigating Rising Interest Rates: Top Canadian Stocks to Watch
Written by Chris MacDonald at The Motley Fool Canada
Where should you invest in the current interest rate environment?
Although many companies are struggling to stay afloat, there are plenty of options in the market that can fetch you exponential returns. Many Canadian companies have benefited from the rising interest rates while others have weathered the storm. Here are some of the top Canadian stocks whose prices you should keep an eye on. Read along to get further insights about these stocks.
Shopify
Shopify (TSX: SHOP) is among the largest cloud-based multichannel e-commerce platforms with its headquarters located in Canada. It has a worldwide presence in countries such as Canada, the United States, Ireland, and Singapore.
The company’s e-commerce site allows small- and medium-sized businesses to use its cloud-based platform. It offers multiple sales channels including its web-based portal, pop-up shops, social media platforms, mobile storefronts, and retail outlets.
Recently, this stock has crossed the $100 mark and reached an all-time high position, as the platform witnessed heavy traffic during the ongoing Thanksgiving season. The platform saw record sales in the United States during Black Friday. As Christmas and New Year are approaching, the revenues of Shopify are expected further to grow in the fourth quarter.
Fortis
Fortis (TSX:FTS) is a multinational gas and electric utility holding company. It is primarily in the business of asset development and market capitalization programs. Furthermore, Fortis collaborates with government, industry associations, and various other stakeholders.
The net earnings per share of this company grew from $0.71 to $0.84 as per its latest published net earnings. Its capital expenditure has increased to a certain extent, with investors clearly expecting higher profitability in the future.
Royal Bank of Canada
Royal Bank of Canada (TSX:RY) is amongst the top two largest banks in Canada. It offers a range of financial products and services such as banking services, insurance, wealth management, investor and treasury services, and capital market-associated services.
Recently, the board of Royal Bank of Canada has declared a dividend of $1.38 per share, which is payable on Feb. 23. Also, the company recently reported its fourth-quarter earnings, with adjusted diluted earnings per share growing 2% year-over-year growth. Furthermore, Royal Bank’s adjusted net income was $16.1 billion, which also increased from the previous year.
Given the company’s size and scale, there’s a lot to like about Royal Bank relative to its peers and many of the other more speculative names in the market right now.
The post Navigating Rising Interest Rates: Top Canadian Stocks to Watch appeared first on The Motley Fool Canada.
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Fool contributor Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends Fortis. The Motley Fool has a disclosure policy.
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