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 report sent to investors on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets increased their price target on shares of Wajax from C$34.00 to C$36.00 in a research note on Friday, April 19th. TD Securities increased their target price 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 Performance

TSE:WJX opened at C$27.61 on Friday. 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 has a fifty-two week low of C$21.63 and a fifty-two week high of C$34.96. The business has a 50 day moving average price of C$32.70 and a 200-day moving average price of C$30.89. The firm has a market cap of C$598.31 million, a PE ratio of 7.59, a price-to-earnings-growth ratio of 0.50 and a beta of 1.90.

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

Wajax Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.07%. Wajax’s dividend payout ratio is presently 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.