Scotiabank Trims Wajax (TSE:WJX) Target Price to C$35.00

Wajax (TSE:WJX) had its price target cut by Scotiabank from C$37.00 to C$35.00 in a research note released on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research firms have also weighed in on WJX. TD Securities boosted their target price on Wajax from C$34.00 to C$37.00 and gave the stock a buy rating in a report on Wednesday, March 6th. BMO Capital Markets increased their price objective on shares of Wajax from C$34.00 to C$36.00 in a research report on Friday, April 19th.

Wajax Price Performance

Shares of WJX opened at C$28.09 on Friday. The company has a 50 day moving average of C$32.81 and a 200-day moving average of C$30.90. The company has a quick ratio of 0.71, a current ratio of 2.16 and a debt-to-equity ratio of 100.93. The stock has a market capitalization of C$608.71 million, a P/E ratio of 7.72, a P/E/G ratio of 0.50 and a beta of 1.90. Wajax has a twelve month low of C$21.63 and a twelve month high of C$34.96.

Wajax (TSE:WJX) last released its earnings results on Monday, March 4th. The company reported C$0.83 earnings per share (EPS) for the quarter. The business had revenue of C$542.60 million for the quarter. Wajax had a return on equity of 17.12% and a net margin of 3.76%. As a group, equities research analysts forecast that Wajax will post 3.9178404 EPS for the current fiscal year.

Wajax Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Friday, June 14th. Wajax’s dividend payout ratio is 38.46%.

Wajax Company Profile

Wajax Corporation provides equipment, parts, and services to construction, forestry, mining, industrial and commercial, oil sands, transportation, metal processing, government, utilities, and oil and gas sectors. The company offers compact excavators, dump trucks, excavators, wheel loaders, and wheeled excavators; aerial devices, boom lifts, cranes, digger derricks, drills, lifts, and material and scissor lifts; marine, off and on highway engines, and transmissions; and feller bunchers, felling heads, flail debarkers, forwarders, grinders, harvesting heads, log loaders, mulchers, skidders, track and wheel harvesters, and woodchippers.