With the ASX having fallen by 6% in the last month alone, a number of leading stocks are priced even more attractively than they were previously. Of course, further volatility could be just around the corner, but looking ahead to the final quarter of the year, these three companies appear to offer a potent mix of income, value and growth prospects that could help you see out 2014 with a bang!
Woodside Petroleum Limited
When it comes to earnings growth potential, Woodside Petroleum Limited (ASX: WPL) has it in bucket loads. Indeed, the bottom line of the major oil and gas player is expected to increase by 18.9% per annum over the next two years, which serves to highlights its potential as a growth stock.
However Woodside isn't just a pure play growth share. That's because it offers a fat, fully franked yield of 5.7% that could be as much as 6.4% by 2016 (assuming a constant share price). With shares in the company having dropped by 8% in the last month, they now trade on a price to earnings growth (PEG) ratio of just 0.72, which represents growth at a very reasonable price.
Scentre Group Ltd
Recent half-year results from Scentre Group Ltd (ASX: SCG) were steady rather than spectacular, with operating income rising by 2.3% and comparable store sales up 3.3%. Indeed, Scentre's growth potential is perhaps a little better than you may realise, with the company all set to increase earnings at an annualised rate of 5.1% over the next two years.
Of course, the main appeal with Scentre is its whopping dividend yield of 6.1%. With dividend increases due to beat inflation over the medium term, Scentre could be a top performer moving forward.
Australia and New Zealand Banking Group
Having fallen in-line with the wider market over the last month, Australia and New Zealand Banking Group (ASX: ANZ) now offers much better value for money. Shares in the diversified banking play now trade on a P/E ratio of 12.2 and yield a fully franked 5.5%.
However, as its recent results showed, ANZ continues to make encouraging progress. Over the next two years earnings are set to rise by over 10% per annum, which means that ANZ, alongside Woodside and Scentre, could be great ways to kick off Q4!
