In this article, we will take a look at the 5 most profitable penny stocks now. To see more such companies, go directly to 16 Most Profitable Penny Stocks Now.
5. Banco Bradesco S.A. (NYSE:BBD)
Income (TTM): $3.11B
Yet another financial services company in our list of the most profitable penny stocks now, Banco Bradesco S.A. (NYSE:BBD) is a Brazilian firm whose stock has gained about 20% year to date through November 12.
4. Nokia Oyj (NYSE:NOK)
Income (TTM): $3.98B
Nokia Oyj (NYSE:NOK) ranks 4th in our list of the most profitable penny stocks now. Nokia Oyj (NYSE:NOK) in October maintained its FY23 outlook. Nokia Oyj (NYSE:NOK) plans to lay off a whopping 14,000 employees by the end of 2026. . Revenue in the third quarter fell about 19.7% year over year to €4.98 billion. For 2023 Nokia Oyj (NYSE:NOK) expects its net sales to come in the range of €23.2 billion – €24.6 billion.
Artisan International Value Fund made the following comment about Nokia Oyj (NYSE:NOK) in its second quarter 2023 investor letter:
“Nokia Oyj (NYSE:NOK) is the world’s third-largest provider of telecommunications equipment. The company sells its products to service providers, such as AT&T and Vodaphone. While we have held the stock, new management has simultaneously improved competitiveness and reduced costs—a remarkable achievement that has resulted in improved growth and profitability. Despite that, the share price has declined, and the valuation multiple has shrunk below 10X forward earnings. The reason is that telecommunications operators are cutting back on investment. Higher interest rates, inflation and competition are eating into customer cash flows, resulting in less capital spending. For now, Nokia will experience reduced demand. At some point, the ever-increasing need for wire and wireless bandwidth will force service providers to increase investment. In addition, Nokia’s market share is improving due to geopolitical changes and improved market competitiveness. The share price declined by 15% during the quarter.”
3. Mizuho Financial Group, Inc. (NYSE:MFG)
Income (TTM): $4.62B
Japanese banking company Mizuho Financial Group, Inc. (NYSE:MFG) is one of the most famous banking names in the world. Mizuho Financial Group, Inc. (NYSE:MFG) was trading on the New York Stock Exchange at around $3.26 as of market close on November 10.
2. NatWest Group plc (NYSE:NWG)
Income (TTM): $4.4B
British banking and insurance company NatWest Group plc (NYSE:NWG) is one of the top penny stocks with high profits. Of the 910 hedge funds tracked by Insider Monkey, 9 hedge funds had stakes in NatWest Group plc (NYSE:NWG). The most significant stakeholder of NatWest Group plc (NYSE:NWG) was Israel Englander’s Millennium Management which had a $1.5 million stake in the company.
1. Banco Santander, S.A. (NYSE:SAN)
Income (TTM): $9.9B
Spain-based financial services company Banco Santander, S.A. (NYSE:SAN) is one of the most profitable penny stocks now. Banco Santander, S.A. (NYSE:SAN) has gained about 28% year to date through November 12.
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