While stock prices for many companies have bounced well off of March lows, there are still some quality companies trading at bargain valuations. Some organizations deserve the low price-to-earnings (P/E) multiples. Some don't and just happen to be mired in low valuation territory and available at a bargain stock price.
Here is one such quality stock that is on sale and poised for higher prices.
ViacomCBS (NASDAQ: VIAC) (NASDAQ: VIAB) stock is trading more than 53% off its 52-week high. That's despite the fact that, in its most recent quarter, the entertainment giant posted $478 million in adjusted free cash flow. It managed a solid bottom-line figure without revenue from having broadcasting rights to the immensely profitable March Madness college basketball tournament; it was canceled because of the coronavirus pandemic.