Want A Bargain? 3 Cheap Stocks That Are About To Breakout

The stock market is technically in a correction, defined by a decline of 10-19% from a 52-week high. When the market falls, a lot of merchandise goes on sale. For those of you who like to buy undervalued stocks, here are three shockingly cheap bargain stocks that are about to breakout. There are many ways to define “cheap” on Wall Street, so for the purposes of this article, I’m using the standard trailing price-to-earnings (P/E) ratio from Yahoo! Finance. Here are only three cheap stocks that showed up on CheapBargainStocks.com’s radar recently.

Chimera Investment Corporation: P/E Ratio (TTM) 6.09

Chimera is the first stock on my list. The stock currently sports an attractive P/E ratio of 6.09 and is forming a little handle below its recent multi-month high.

Here is a brief company profile courtesy of Yahoo Finance:

Chimera Investment Corporation operates as a real estate investment trust in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, commercial mortgage loans, and other real estate related securities. It has elected to be taxed as a real estate investment trust. As a result, the company would not be subject to U.S. federal income tax, if it distributes at least 90% of its REIT taxable income to its shareholders. Chimera Investment Corporation was founded in 2007 and is based in New York, New York.

Express Scripts Holding Company: P/E Ratio (TTM) 11.37

Express Scripts is another cheap stock that is about to breakout. The stock has been exhibiting very strong relative strength as it refused to fall as the market pulled back in recent months. The stock is trading just below its 52-week high which makes it ripe to breakout.

Here is a brief company profile courtesy of Yahoo Finance:

Express Scripts Holding Company operates as a pharmacy benefit management (PBM) company in the United States and Canada. The company’s PBM segment offers clinical solutions; and specialized pharmacy care, home delivery and specialty pharmacy, retail network pharmacy administration, benefit design consultation, drug utilization review, drug formulary management, public exchange, administration of group purchasing organization, and digital consumer health and drug information services. This segment also provides Medicare, Medicaid, and health insurance marketplace products; Express Scripts SafeGuardRx, a suite of solutions targeting the therapy classes that pose clinical challenges and budgetary threat to its clients; and Inside Rx, a program that provide affordable access to medication for uninsured and underinsured individuals. Its Other Business Operations segment distributes specialty pharmaceuticals and medical supplies, including injectable and infusible pharmaceuticals and medications to treat specialty and rare/orphan diseases. This segment also provides medical benefit management solutions for radiology, cardiology, musculoskeletal disorders, sleep disorders, post-acute care, genetic lab, specialty pharmacy, and medical oncology. The company serves managed care organizations, health insurers, third-party administrators, employers, union-sponsored benefit plans, workers’ compensation plans, government health programs, providers, clinics, hospitals, and others. As of December 31, 2017, it operated 4 automated dispensing home delivery pharmacies; 1 non-automated dispensing home delivery pharmacy; 7 non-dispensing order processing centers; 5 patient contact centers; 9 specialty home delivery pharmacies; and 34 specialty branch pharmacies. The company was formerly known as Aristotle Holding, Inc. and changed its name to Express Scripts Holding Company in April 2012. Express Scripts Holding Company was founded in 1986 and is headquartered in Saint Louis, Missouri.

Ciena Corporation (TTM) 7.05

Ciena is the next stock that I pulled because it has been showing up for the past few months on the CheapBargainStocks weekly list of 20 cheap stocks and it continues to race higher. The stock currently sports a relatively low P/E ratio of 7.05 and is trading just below its 52-week high.

Here is a brief company profile courtesy of Yahoo Finance:

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company’s Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching. Its products include 6500 Packet-Optical Platform and the 5430 Reconfigurable Switching System, Waveserver stackable interconnect system, CoreDirector Multiservice Optical Switches, and OTN configuration for the 5410 Reconfigurable Switching System, as well as Z-Series Packet-Optical Platform; 3000 family of service delivery switches and service aggregation switches, and the 5000 family of service aggregation switches, as well as 8700 Packetwave Platform and the Ethernet packet configuration for the 5410 Service Aggregation Switch; and 4200 Advanced Services Platform, 5100/5200 Advanced Services Platform, Common Photonic Layer, and 6100 Multiservice Optical Platform. This segment also sells operating system software and enhanced software features embedded in each of its products. The company’s Software and Software-Related Services segment offers network management solutions, including the OneControl Unified Management System, ON-Center Network & Service Management Suite, Ethernet Services Manager, Optical Suite Release, and Planet Operate; and Blue Planet network virtualization, service orchestration, and network management software platform, as well as related installation, support, and consulting services. Its Global Services segment provides consulting and network design, installation and deployment, maintenance support, and training services. The company sells its products through direct and indirect sales channels to network operators. Ciena Corporation was founded in 1992 and is headquartered in Hanover, Maryland.