Wajax (TSE:WJX) Stock Price Down 16.8%

Wajax Co. (TSE:WJX) dropped 16.8% during trading on Thursday . The company traded as low as C$27.42 and last traded at C$28.05. Approximately 110,124 shares were traded during trading, an increase of 272% from the average daily volume of 29,570 shares. The stock had previously closed at C$33.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Scotiabank decreased their price target on shares of Wajax from C$37.00 to C$35.00 and set an “outperform” rating on the stock in a research note on Friday. BMO Capital Markets reduced their price objective on Wajax from C$36.00 to C$32.00 and set a “market perform” rating on the stock in a research note on Friday. Finally, TD Securities lifted their target price on Wajax from C$34.00 to C$37.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th.

Wajax Trading Up 0.2 %

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 stock has a fifty day moving average of C$32.81 and a 200-day moving average of C$30.87. The company has a market cap of C$608.71 million, a PE ratio of 7.72, a PEG ratio of 0.50 and a beta of 1.90.

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

Wajax Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.98%. Wajax’s payout ratio is 38.46%.

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.