Wajax (TSE:WJX) Sets New 1-Year Low – Here’s Why

Wajax Co. (TSE:WJX)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as C$20.44 and last traded at C$20.51, with a volume of 318790 shares changing hands. The stock had previously closed at C$24.89.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WJX shares. Scotiabank set a C$29.00 target price on Wajax and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. National Bankshares set a C$26.00 target price on shares of Wajax and gave the stock a “sector perform” rating in a research report on Friday, September 27th. BMO Capital Markets dropped their price target on shares of Wajax from C$32.00 to C$30.00 in a research report on Wednesday, July 24th. TD Securities decreased their price objective on Wajax from C$34.00 to C$30.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, National Bank Financial upgraded Wajax to a “hold” rating in a report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$28.75.

Wajax Stock Performance

The stock has a market cap of C$447.42 million, a P/E ratio of 7.03, a PEG ratio of 0.50 and a beta of 1.80. The company has a current ratio of 1.91, a quick ratio of 0.71 and a debt-to-equity ratio of 103.38. The company’s 50-day simple moving average is C$25.20 and its 200 day simple moving average is C$26.20.

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

Wajax Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Monday, September 16th were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.40 annualized dividend and a dividend yield of 6.80%. Wajax’s payout ratio is 44.73%.

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.