Wajax (TSE:WJX) Shares Cross Above 200-Day Moving Average of $30.55

Wajax Co. (TSE:WJX)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$30.55 and traded as high as C$32.47. Wajax shares last traded at C$32.29, with a volume of 19,557 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WJX shares. BMO Capital Markets upped their price objective on shares of Wajax from C$31.00 to C$34.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Scotiabank increased their price objective on Wajax from C$36.00 to C$37.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Finally, TD Securities raised their price objective on Wajax from C$34.00 to C$37.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th.

Wajax Stock Up 0.2 %

The firm has a market cap of C$699.72 million, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 0.50 and a beta of 1.90. The firm has a 50-day moving average price of C$32.66 and a two-hundred day moving average price of C$30.55. The company has a debt-to-equity ratio of 100.93, a quick ratio of 0.71 and a current ratio of 2.16.

Wajax (TSE:WJX) last released its quarterly earnings data on Monday, March 4th. The company reported C$0.83 earnings per share (EPS) for the quarter. The firm had revenue of C$542.60 million during the quarter. Wajax had a return on equity of 17.12% and a net margin of 3.76%. On average, sell-side analysts forecast that Wajax Co. will post 3.9178404 earnings per share for the current year.

Wajax Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.34%. This is a positive change from Wajax’s previous quarterly dividend of $0.33. Wajax’s dividend payout ratio (DPR) is presently 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.