Wajax (TSE:WJX) Posts Quarterly Earnings Results

Wajax (TSE:WJX) released its quarterly earnings data on Monday. The company reported C$0.59 EPS for the quarter, FiscalAI reports. The business had revenue of C$477.80 million for the quarter. Wajax had a net margin of 3.18% and a return on equity of 12.07%.

Wajax Price Performance

Shares of TSE:WJX opened at C$32.87 on Wednesday. The company has a market cap of C$715.91 million, a P/E ratio of 11.18, a P/E/G ratio of 0.50 and a beta of 0.19. The business has a fifty day simple moving average of C$33.71 and a 200-day simple moving average of C$31.64. Wajax has a 52 week low of C$24.40 and a 52 week high of C$40.00. The company has a quick ratio of 0.71, a current ratio of 1.92 and a debt-to-equity ratio of 66.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus set a C$45.00 target price on Wajax and gave the company a “buy” rating in a research note on Wednesday, September 30th. National Bank Financial boosted their price target on Wajax from C$36.00 to C$42.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Scotiabank reduced their price objective on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 7th. Finally, TD decreased their price objective on Wajax from C$35.00 to C$34.00 and set a “hold” rating on the stock in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$37.50.

About Wajax

Wajax Corp is a Canadian distributor of industrial components. The company’s core business is the sale of parts and service support of equipment, power systems, and industrial components through a network of branches in Canada. Most of its revenue is generated from the sale of equipment which includes machinery and components used for construction purposes and its industrial components find utility in businesses like mining, forestry, and material handling for other industrial purposes. It sells to leading manufacturer brands such as Hitachi, JCB, Bell, Hyster, Palfinger and other similar industries.