In a volatile market, large-cap stocks at 52-week lows can mean hidden investment opportunities. While a stock at or near a recent low might seem a risky investment, in the case of large-cap stocks, it often reflects market sentiment rather than fundamental issues. In short, this is the chance to benefit from the short-term troubles of an established company.
The S&P 500 index has returned 14% so far in 2024. Yet, not all stocks participated in this rally, and some well-known stocks are still trading near their 52-week lows. Savvy investors know that current valuations for these large-cap shares may not necessarily reflect their long-term potential.
Such downturns in the stock price are often temporary. As market conditions improve, these stocks could rebound significantly. For those ready to take advantage of market inefficiencies, here are three large-cap stocks at 52-week lows with promising recovery potential for the latter half of 2024.
Estee Lauder (EL) First up on today’s list of large-cap stocks at 52-week lows is the beauty industry behemoth Estee Lauder (NYSE: EL ). The company is known for its premium skincare and beauty products, including iconic brands like La Mer, Clinique, Tom Ford Beauty, and Jo Malone London. Estee Lauder’s third-quarter fiscal 2024 earnings showed a 5.
9% year-over-year increase in organic net sales to $3.94 billion, with double-digit growth in the Europe, Middle East and Africa (EMEA) region. Adjusted earnings per share jumped 117% to $1.