Wajax (TSE:WJX) Price Target Lowered to C$24.00 at BMO Capital Markets

Wajax (TSE:WJX) had its price objective lowered by BMO Capital Markets from C$28.00 to C$24.00 in a research note released on Wednesday morning,BayStreet.CA reports.

A number of other equities analysts also recently commented on the stock. National Bankshares set a C$26.00 price objective on shares of Wajax and gave the stock a “sector perform” rating in a research note on Friday, September 27th. TD Securities reduced their price target on Wajax from C$30.00 to C$24.00 and set a “buy” rating for the company in a research report on Wednesday. National Bank Financial raised Wajax to a “hold” rating in a research report on Thursday, September 26th. Finally, Scotiabank cut their target price on Wajax from C$29.00 to C$24.00 in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$24.50.

Wajax Stock Performance

WJX stock opened at C$20.86 on Wednesday. The company has a debt-to-equity ratio of 103.38, a current ratio of 1.91 and a quick ratio of 0.71. Wajax has a 1-year low of C$20.44 and a 1-year high of C$34.96. The business has a 50-day moving average price of C$24.85 and a 200 day moving average price of C$25.96. The company has a market capitalization of C$453.29 million, a P/E ratio of 6.66, a PEG ratio of 0.50 and a beta of 1.80.

Wajax (TSE:WJX) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$1.06 EPS for the quarter. Wajax had a net margin of 3.32% and a return on equity of 14.06%. The business had revenue of C$568.30 million during the quarter. As a group, equities research analysts forecast that Wajax will post 3.4850136 EPS for the current fiscal year.

Wajax Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.40 annualized dividend and a dividend yield of 6.71%. Wajax’s dividend payout ratio is presently 44.73%.

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.