The S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) has experienced a minor setback in June, dropping a total of 67.8 points or 1.2% for the month. Currently, the index is hovering at just above 5,424 points while some analysts are still holding firm that it could climb as high as 6,000 points over the coming months.
Although there have been strong leads coming from global markets, it is likely that investors are taking part profits (or accepting their losses) today as the 2013-14 financial year comes to an end.
The end of the financial year is an excellent time for investors to reassess their portfolios and perhaps redistribute their capital to more promising prospects. If you've got some spare cash that you're ready to put to work, you should consider these three stocks which are all presenting as attractive buys today.
- Crown Resorts Ltd (ASX: CWN) has fallen nearly 17% since peaking in January, making it one of the worst performing blue chip stocks on the ASX in that time. Despite the poor performance recently, the long term is still looking very bright. The gaming and entertainment business boasts strong growth prospects – both in Australia and overseas – and could very well increase its dividend distribution in the near future.
- Coca-Cola Amatil Ltd (ASX: CCL), like Crown, has had a disastrous start to the year. In fact, over the last 12 months it has dropped more than 24%, largely thanks to a pricing war with rival Schweppes. However, the issues facing the business appear to be short-term in nature and the long-term will likely hold incredible benefits for shareholders who remain patient. It has jumped more than 5% in just under two weeks after financial services company UBS upgraded its recommendation on the stock, indicating the worst times could be behind us.
- Collection House Limited (ASX: CLH) could prove to be one of FY2014-15's most vibrant stocks. The receivables management provider (debt collection, to you and I), is expecting NPAT to be between $17.5-18.5 million for FY14, while it has recognised the need to expand office space by 50% to accommodate its future growth plans. The company appears to be very confident for the future, and so am I – particularly with its forecast 4.2% dividend yield (fully franked, of course).
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