Wajax (TSE:WJX) Price Target Cut to C$32.00

Wajax (TSE:WJX) had its price target decreased by BMO Capital Markets from C$36.00 to C$32.00 in a research report report published on Friday, BayStreet.CA reports. BMO Capital Markets currently has a market perform rating on the stock.

WJX has been the topic of several other reports. TD Securities boosted their price objective on shares of Wajax from C$34.00 to C$37.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. Scotiabank reduced their price objective on Wajax from C$37.00 to C$35.00 and set an outperform rating on the stock in a research report on Friday.

Wajax Stock Performance

TSE:WJX opened at C$28.09 on Friday. The stock has a market cap of C$608.71 million, a PE ratio of 7.72, a price-to-earnings-growth ratio of 0.50 and a beta of 1.90. Wajax has a fifty-two week low of C$21.63 and a fifty-two week high of C$34.96. The firm’s fifty day simple moving average is C$32.81 and its 200-day simple moving average is 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.

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

Wajax Dividend Announcement

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

About Wajax

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.