Wajax (TSE:WJX) Sets New 1-Year Low – Here’s Why

Wajax Co. (TSE:WJX)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as C$19.44 and last traded at C$20.00, with a volume of 114782 shares. The stock had previously closed at C$20.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Scotiabank lowered their price objective on shares of Wajax from C$29.00 to C$24.00 in a research report on Wednesday, November 6th. BMO Capital Markets lowered their target price on Wajax from C$28.00 to C$24.00 in a report on Wednesday, November 6th. Finally, TD Securities upgraded Wajax to a “strong-buy” rating in a research report on Friday, January 17th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$24.50.

Wajax Price Performance

The company has a debt-to-equity ratio of 103.38, a quick ratio of 0.71 and a current ratio of 1.91. The stock has a market capitalization of C$435.03 million, a price-to-earnings ratio of 6.40, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80. The business’s 50 day simple moving average is C$21.75 and its 200-day simple moving average is C$23.69.

Wajax (TSE:WJX) last issued its quarterly earnings data on Monday, November 4th. The company reported C$0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.83 by C($0.40). Wajax had a return on equity of 14.06% and a net margin of 3.32%. During the same period in the prior year, the business earned $0.93 earnings per share. Research analysts anticipate that Wajax Co. will post 3.4850136 earnings per share for the current year.

Wajax Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.99%. The ex-dividend date was Monday, December 16th. Wajax’s payout ratio is currently 44.73%.

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.