Scotiabank Lowers Wajax (TSE:WJX) Price Target to C$35.00

Wajax (TSE:WJX) had its target price trimmed by Scotiabank from C$37.00 to C$35.00 in a research report sent to investors on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also weighed in on WJX. TD Securities increased their price objective on shares of Wajax from C$34.00 to C$37.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. BMO Capital Markets upped their price target on shares of Wajax from C$34.00 to C$36.00 in a report on Friday, April 19th.

Wajax Stock Down 1.7 %

Wajax stock opened at C$27.61 on Friday. The business’s 50-day simple moving average is C$32.70 and its two-hundred day simple moving average is C$30.89. The company has a debt-to-equity ratio of 100.93, a quick ratio of 0.71 and a current ratio of 2.16. The company has a market cap of C$598.31 million, a PE ratio of 7.59, a PEG ratio of 0.50 and a beta of 1.90. Wajax has a fifty-two week low of C$21.63 and a fifty-two week high of C$34.96.

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

Wajax Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Friday, June 14th will be paid a dividend of $0.35 per share. 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 payout ratio is 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.