Wajax (TSE:WJX) Hits New 52-Week Low – Should You Sell?

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Scotiabank lowered their target price on Wajax from C$29.00 to C$24.00 in a research note on Wednesday, November 6th. BMO Capital Markets decreased their price target on shares of Wajax from C$28.00 to C$24.00 in a research report on Wednesday, November 6th. Finally, TD Securities raised Wajax to a “strong-buy” rating in a report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Wajax currently has a consensus rating of “Hold” and a consensus price target of C$24.50.

Wajax Stock Performance

The company has a debt-to-equity ratio of 103.38, a current ratio of 1.91 and a quick ratio of 0.71. The stock’s 50 day simple moving average is C$21.75 and its two-hundred day simple moving average is C$23.69. The company has a market capitalization of C$435.03 million, a P/E ratio of 6.40, a P/E/G ratio of 0.50 and a beta of 1.80.

Wajax (TSE:WJX) last released its earnings results 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 net margin of 3.32% and a return on equity of 14.06%. During the same quarter last year, the company earned $0.93 EPS. As a group, research analysts expect that Wajax Co. will post 3.4850136 earnings per share for the current year.

Wajax Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date was Monday, December 16th. Wajax’s dividend payout ratio (DPR) is currently 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.