Wajax (TSE:WJX) Announces Earnings Results

Wajax (TSE:WJX) posted its quarterly earnings data on Thursday, August 6th. The company reported C$0.82 EPS for the quarter, FiscalAI reports. Wajax had a return on equity of 12.07% and a net margin of 3.18%.The firm had revenue of C$515.67 million for the quarter.

Wajax Price Performance

Shares of Wajax stock traded down C$0.62 on Monday, hitting C$38.56. 144,849 shares of the company traded hands, compared to its average volume of 68,802. The company has a debt-to-equity ratio of 66.87, a quick ratio of 0.71 and a current ratio of 1.92. The stock has a market capitalization of C$839.84 million, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 0.50 and a beta of 0.18. The business has a 50-day simple moving average of C$31.76 and a 200 day simple moving average of C$31.29. Wajax has a 52 week low of C$22.43 and a 52 week high of C$39.60.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus set a C$45.00 target price on shares of Wajax and gave the stock a “buy” rating in a report on Wednesday, September 30th. Scotiabank lowered their price target on shares of Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 7th. TD dropped their price target on shares of Wajax from C$35.00 to C$34.00 and set a “hold” rating for the company in a research report on Monday, August 10th. Finally, National Bank Financial increased their price objective on shares of Wajax from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Wajax has a consensus rating of “Moderate Buy” and a consensus target price of C$36.50.

Wajax Company Profile

Wajax Corp is a Canadian distributor of industrial components. The company’s core business is the sale of parts and service support of equipment, power systems, and industrial components through a network of branches in Canada. Most of its revenue is generated from the sale of equipment which includes machinery and components used for construction purposes and its industrial components find utility in businesses like mining, forestry, and material handling for other industrial purposes. It sells to leading manufacturer brands such as Hitachi, JCB, Bell, Hyster, Palfinger and other similar industries.