With unemployment being relatively high, savings rates being low, and the outlook for the economy being somewhat downbeat, it's perhaps unsurprising that many Aussie investors are feeling a little pessimistic. Certainly, the future appears to be somewhat uncertain.
So, with many investors feeling the same, you could take advantage of attractive valuations and bag yourself some blue-chip bargains. With that in mind, could these three stocks be appealing enough to warrant a place in your portfolio?
Ramsay Health Care Limited
Although Ramsay Health Care Limited (ASX: RHC) is the major private hospital operator in Australia, that doesn't mean its growth potential is lacking. In fact, it is aiming to continue its expansion in Europe and also offer increased services across Asia, too.
This means that Ramsay's long-term growth prospects are relatively bright and, looking a little nearer term, the company is expected to increase its bottom line at an annualised rate of 18.2% over the next two years, which is roughly three times the prospective growth rate of the wider market.
Despite this, Ramsay still offers growth at a reasonable price, with its price to earnings growth (PEG) ratio of 1.76 providing evidence of this, since it is well below the ASX's 1.99 and highlights its appeal at the present time.
Crown Resorts Ltd
The last five years have been highly profitable for investors in Crown Resorts Ltd (ASX: CWN), with the gaming and entertainment company delivering total shareholder returns of 13% during the period.
Of course, further gains could lie ahead, with Crown Resorts having multiple development projects in the pipeline that could stimulate its bottom line. For example, it is focused on adding to its already successful presence in Melbourne via a joint venture with Schiavello Group to build another hotel, while there are also plans to expand into Las Vegas, Macau and even Japan in future, too.
Noting that Crown Resorts now trades on a price to book (P/B) ratio of just 2.2 (versus 2.5 for the wider consumer services sector), it could be worth buying at the present time.
Scentre Group Ltd
One of the main appeals of Scentre Group Ltd (ASX: SCG) is that it offers a superb yield at a time when interest rates are likely to stay low for quite some time. For example, Scentre currently yields 5.4% and is forecast to increase dividends per share at a rate that is higher than inflation over the next couple of years.
However, Scentre also offers good value at its current price level, relative to its sector. For example it has a PEG ratio of 2.5, which could equate to share price growth due to it being considerably lower than the real estate sector's 3.3. As a result of this and its excellent yield, Scentre could be a sound buy right now.
