10 Great Cheap Stocks to Buy Now for Under $10 in 2018

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As the P/E ratios of most S&P 500 companies look very expensive and the market continues to regularly hit new all-time highs, it's very difficult to find cheap stocks to buy now.

This goes for both share price, since most stocks are trading higher on a per-share basis, and valuation relative to earnings. Right now, the typical S&P 500 company is trading at about 25 times forward-looking earnings. Histortically, S&P 500 companies have traded at about 15 times earnings in more normal markets.

While the S&P 500 as a whole is expensive, there are still a handful undervalued stocks that are trading at less than $10.00 per share. Opportunities for value exist if you know where to look. Putting together a list of cheap stocks to buy now requires looking into some smaller, riskier, unloved or undiscovered parts of the market.

Some of these companies are great ideas because they're too small and too risky to attract the interest of most mutual funds and professional money managers. Others have been beat up by the market after a period of slowing earnings and profits, but are now trying to turn around and bounce back.

Each of these 10 stock picks all share a common characteristic, a super-low share price of $10.00 or less.

#1 - Halcon Resources (NYSE:HK)

Current Price: $4.82
P/E Ratio: 1.3
Consensus Rating: Buy
Ratings Breakdown: 6 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $10.29 (113.4% Upside)

Halcon Resources logoHalcon Resources Corporation is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich oil and natural gas assets in the United States. The Company's estimated total proved oil and natural gas reserves are approximately 146.8 million barrels of oil equivalent (MMBoe), consisting of over 120.7 million barrels of oil (MMBbls), approximately 13.0 MMBbls of natural gas liquids and over 78.4 billion cubic feet (Bcf) of natural gas. The Company's oil and natural gas assets consist of undeveloped acreage positions in unconventional liquids-rich basins/fields. The Company has reserves in its core resource plays of approximately 143.6 MMBoe, of which over 92% are oil and natural gas liquids, and approximately 55% are proved developed. The Company has working interests in approximately 123,000 net acres prospective in the Bakken/Three Forks formations in North Dakota.

#2 - Danaos (NYSE:DAC)

Current Price: $1.25
P/E Ratio: 1.6
Consensus Rating: Hold
Ratings Breakdown: 0 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $2.00 (60.0% Upside)

Danaos logoDanaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company's principal business is the acquisition and operation of vessels. The Company conducts its operations through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company. The Company's manager is Danaos Shipping Company Limited (Danaos Shipping). The Company has a fleet of over 50 containerships aggregating approximately 329,590 twenty-foot equivalent units (TEUs). Its containership fleet includes approximately 53 containerships deployed on time charters and approximately two containerships deployed on bareboat charter. Gemini Shipholdings Corporation (Gemini), a company beneficially owned by the Company, owns approximately four additional containerships of over 24,000 TEU aggregate capacity.

#3 - Genworth Financial (NYSE:GNW)

Current Price: $2.90
P/E Ratio: 1.8
Consensus Rating: Hold
Ratings Breakdown: 1 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $3.50 (20.7% Upside)

Genworth Financial logoGenworth Financial, Inc. (Genworth) is a financial security company. The Company provides insurance, wealth management, investment and financial solutions. As of December 31, 2011, the Company had more than 15 million customers, with a presence in more than 25 countries. The Company operates in Insurance, Mortgage Insurance and Corporate and Runoff. The Mortgage Insurance Division includes the business segments, such as International Mortgage Insurance and U.S. Mortgage Insurance. The Corporate and Runoff Division includes the Runoff segment and Corporate and Other activities. In September 2013, Genworth Financial, Inc closed the sale of its Wealth Management business, including Genworth Financial Wealth Management and alternative solutions provider, the Altegris companies, to a partnership of Aquiline Capital Partners and Genstar Capital.

#4 - MDC Partners (NASDAQ:MDCA)

Current Price: $6.65
P/E Ratio: 1.9
Consensus Rating: Buy
Ratings Breakdown: 2 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $12.75 (91.7% Upside)

MDC Partners logoMDC Partners Inc. provides marketing, advertising, activation, communications, and strategic consulting solutions worldwide. It offers a range of customized services, including global advertising and marketing services; media buying, planning, and optimization; interactive and mobile marketing; direct marketing; database and customer relationship management; sales promotion; corporate communications; market research; data analytics and insights; corporate identity, design, and branding services; social media communications; product and service innovation; e-commerce management; and technology services. The company was formerly known as MDC Corporation Inc. and changed its name to MDC Partners Inc. in January 2004. MDC Partners Inc. was founded in 1980 and is headquartered in New York, New York.

#5 - Vivint Solar (NYSE:VSLR)

Current Price: $3.75
P/E Ratio: 2.1
Consensus Rating: Hold
Ratings Breakdown: 2 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $5.40 (44.0% Upside)

Vivint Solar logoVivint Solar, Inc. offers distributed solar energy, electricity generated by a solar energy system installed at or near customers' locations, to residential customers. Through investment funds, the Company owns solar energy systems it installs and provides solar electricity pursuant to long-term contracts with its customers. The Company also sells solar energy systems outright to customers. The Company deploys its direct-to-home sales force to provide in-person professional consultations to prospective customers to evaluate the feasibility of installing a solar energy system at their residence. The Company's systems use communication gateways and monitoring services to collect performance data. The Company operates in Arizona, California, Connecticut, Florida, Hawaii, Maryland, Massachusetts, New Jersey, New Mexico, New York, Pennsylvania, South Carolina, Texas and Utah. The Company purchases solar panels directly from multiple manufacturers.

#6 - Entravision Communication (NYSE:EVC)

Current Price: $4.35
P/E Ratio: 2.3
Consensus Rating: Hold
Ratings Breakdown: 0 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $7.00 (60.9% Upside)

Entravision Communication logoEntravision Communications Corporation is a media company. The Company reaches and engages Hispanics in the United States and certain border markets of Mexico across media channels and advertising platforms. The Company operates through three segments: television broadcasting, radio broadcasting and digital media. As of December 31, 2016, the Company owned and operated 54 television stations located primarily in California, Colorado, Connecticut, Florida, Kansas, Massachusetts, Nevada, New Mexico, Texas and Washington, District of Columbia. It owns and operates Spanish-language radio stations in the United States. As of December 31, 2016, its radio stations consisted of 38 frequency modulation (FM) and 11 amplitude modulation (AM) stations located in Arizona, California, Colorado, Florida, Nevada, New Mexico and Texas. The digital media segment provides digital advertising solutions that allow advertisers to reach online Hispanic audiences throughout the United States and Mexico.

#7 - Southwestern Energy (NYSE:SWN)

Current Price: $4.41
P/E Ratio: 2.7
Consensus Rating: Hold
Ratings Breakdown: 5 Buy Ratings, 12 Hold Ratings, 6 Sell Ratings.
Consensus Price Target: $6.93 (57.1% Upside)

Southwestern Energy logoSouthwestern Energy Company is an energy company engaged in natural gas and oil exploration, development and production. The Company operates through two segments: Exploration and Production (E&P) and Midstream Services. Its operations in northeast Pennsylvania are primarily focused on the unconventional natural gas reservoir known as the Marcellus Shale. Through its affiliated midstream subsidiaries, it is engaged in natural gas gathering activities in Arkansas and Louisiana. Its operations are principally focused on the development of unconventional natural gas reservoirs located in Pennsylvania, West Virginia and Arkansas. As of December 31, 2016, its estimated proved natural gas and oil reserves were 5,253 billions of cubic feet equivalent (Bcfe). During the fiscal year ended December 31, 2016, it gathered approximately 600 billion cubic feet (Bcf) of natural gas in the Fayetteville Shale area, including 42 Bcf of natural gas from third-party operated wells.

#8 - Sprint (NYSE:S)

Current Price: $4.92
P/E Ratio: 2.8
Consensus Rating: Hold
Ratings Breakdown: 1 Buy Ratings, 11 Hold Ratings, 7 Sell Ratings.
Consensus Price Target: $5.68 (15.4% Upside)

Sprint logoSprint Corporation (Sprint) is a holding company. The Company, along with its subsidiaries, is a communications company offering a range of wireless and wireline communications products and services that are designed to meet the needs of consumers, businesses, government subscribers and resellers. It operates through two segments: Wireless and Wireline. The Company offers wireless services on a postpaid and prepaid payment basis to retail subscribers and also on a wholesale basis. The Wireline segment provides voice, data and Internet Protocol (IP) communication services to its Wireless segment. The Company offers wireless and wireline services to subscribers in approximately 50 states, Puerto Rico, and the United States Virgin Islands under the Sprint corporate brand, which includes its retail brands of Sprint, Boost Mobile, Virgin Mobile and Assurance Wireless on its wireless networks utilizing various technologies.

#9 - J.Jill (NYSE:JILL)

Current Price: $4.43
P/E Ratio: 3.5
Consensus Rating: Hold
Ratings Breakdown: 4 Buy Ratings, 5 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $9.50 (114.4% Upside)

J.Jill logoJ.Jill, Inc. (J.Jill) operates as a specialty retailer in the women's apparel industry. J.Jill is a women's apparel brand focused on customer in the 40-65 age segment. The Company operates an integrated omni-channel platform that is diversified across its retail stores, Website and catalogs. It operates in the retail and direct channels segment. Its direct channel consists of its Website and catalog orders. As of January 28, 2017, it operated 275 stores in 43 states. The Company also offers a range of footwear and accessories, including scarves, jewelry and hosiery. Its products are marketed under the J.Jill brand name and sold through its direct and retail channels. It offers two sub-brands as extensions of its brand aesthetic: Pure Jill and Wearever. Its Website provides customers with access to the J.Jill product offering and features content, including updates on new collections and guidance on how to wear and wardrobe its styles.

#10 - Cenovus Energy (NYSE:CVE)

Current Price: $8.14
P/E Ratio: 3.6
Consensus Rating: Hold
Ratings Breakdown: 7 Buy Ratings, 4 Hold Ratings, 2 Sell Ratings.
Consensus Price Target: $15.10 (85.5% Upside)

Cenovus Energy logoCenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.

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