What Do You Call the Market’s Cheapest Stocks? Bargains.

Updated June 24, 2022 8:21 pm ET / Original June 24, 2022 7:57 pm ET

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Illustration by Barron’s staff; (reference) Dreamstime (3)

Looking for the cheapest stocks in the market now? Two industries stand out: home builders and steel makers.

Barron’s screened for the 10 stocks in the S&P 500 index, S&P Midcap 400, and S&P Smallcap 600 with the lowest price/earnings ratios based on projected 2022 earnings, using consensus estimates from FactSet. Among the group of 30 stocks in the three indices, 14 were home builders and steel producers, all trading for just two to four times this year’s estimates. Many of the home builders also trade around book value.

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