BHP Billiton Limited
The sale of BHP Billiton Limited's (ASX: BHP) Pakistan gas business for an undisclosed sum this week is another example of just how well diversified the company is. Certainly, the sale fits in with the rationalisation strategy being pursued by BHP, but this does not change the appealing level of diversification that could, over the medium to long term, help to shield it from weakness in specific commodity markets.
And, with BHP still trading at a discount to the ASX, its performance moving forward could be strong. For example, it has a price to earnings (P/E) ratio of 15.4, which is less than the ASX's 16.3 and shows that there could be considerable upside ahead for BHP.
QBE Insurance Group Ltd
The recent sale of two underwriting agencies by QBE Insurance Group Ltd (ASX: QBE) provides yet more evidence of the progress being made by its relatively new management team.
Certainly, there is still a long way to go, but QBE is becoming more efficient and this shows in its earnings outlook. For example, QBE is expected to increase its bottom line by 19.4% in the current year, which is around three times the wider ASX's forecast growth rate.
And, with QBE trading on a price to book (P/B) ratio of just 1.27, it seems to offer excellent value for money and could be a top notch performer.
CSL Limited
Although CSL Limited (ASX: CSL) disappointed investors recently by downgrading its growth outlook, it remains a top notch investment opportunity at the present time. A key reason for that is its consistency with regards to earnings growth, with CSL having increased its bottom line at an annualised rate of 21.4% over the last 10 years.
And, with CSL also now trading on a much keener valuation following its recent share price weakness, now could be a great time to buy a slice of it. For example, it has a price to earnings growth (PEG) ratio of just 1.3, which is considerably lower than the ASX's PEG ratio of 2.12 and highlights that it offers considerably more growth at a more attractive price than the wider index. As such, it could be an ASX-beater.
