The 15% fall in the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) over the past six months has correspondingly seen the share prices of a number of appealing businesses head to fresh one-year lows.
While that doesn't automatically make the stocks cheap, it can be a good place to start one's search for enticing investment opportunities.
Cash Converters International Ltd (ASX: CCV) – with the share price trading at a multi-year low of 43 cents, the normalised earnings per share for financial year (FY) 2015 of 6.97 cents suggest this stock could be cheap at these levels, but regulatory concerns will continue to cloud the outlook.
IMF Bentham Ltd (ASX: IMF) – with an operating record that provides insights into the potential success rate of cases, IMF has built itself an appealing litigation funding business model. With the stock not being this low since early 2012 now could be an opportunity for investors, however, recent board changes could be a warning sign.
Lend Lease Group (ASX: LLC) – with the global property group's share price continuing to trade lower post the release of its full year results, the investment case for Lend Lease is arguably becoming more compelling.
Myer Holdings Ltd (ASX: MYR) – it's been a wipe out for shareholders of this leading department store operator this week after the group unveiled a discounted capital raising and significant restructuring plans. Myer reported 13.2 cents per share in earnings (before significant items) for FY 2015; with the share price currently below the capital raising offer price of 94 cents, investors are obviously focusing on the FY 2016 guidance for a lower net profit result.
Veda Group Ltd (ASX: VED) – with an appealing portfolio of niche assets that produced double digit growth in revenues and earnings over the past financial year there was plenty to like about the results from Veda. Arguably the share price got ahead of itself after its initial public offering (IPO) in December 2013, but it's possible the stock is now trading more in line with its fair value.
Recent market volatility has definitely created opportunities for bargain-hunting stock pickers. Whether even greater value opens up in the coming weeks and months remains to be seen, so progressive buying could be a sensible strategy.
