The 3 Most Undervalued Stocks to Buy in July 2024

Group 1: Costamare (CMRE) - Costamare reported a total revenue increase of 89% and an adjusted net income rise of 62% year-over-year for Q1 2024 [4] - The company has a strong liquidity position of $1,106 million and a profitable leasing program funding 24 shipping assets totaling approximately $258 million [4] - Costamare is considered undervalued with a forward P/E ratio of 5.11 compared to the sector average of 18.00, and it has shown significant share price appreciation [5][13] Group 2: SkyWest (SKYW) - SkyWest announced a 16% year-over-year increase in total revenue for Q1 2024, with a net income of $60 million compared to a net loss of $22 million in Q1 2023 [7] - The company has experienced nearly double the stock price appreciation over the past year, distinguishing itself from competitors like American Airlines and Alaska Air [6][16] - SkyWest's forward P/E ratio is 12.26, which is below the sector median of 18.00, indicating it is still trading below its value despite significant growth [17] Group 3: Blue Owl Capital (OBDC) - Blue Owl Capital reported a 6% increase in total investment income year-over-year for Q1 2024, with approximately $743 million in cash and restricted cash [9] - The company trades at a forward P/E of 8.18, lower than the sector average of 10.62, making it an attractive option for investors seeking dividend income [10] - OBDC has a high annual dividend yield of 9.62% and initiated $1,203 million in investments in 18 new and 13 existing portfolio companies during the first quarter [20]