Wajax (TSE:WJX) Raised to Hold at National Bank Financial

National Bank Financial upgraded shares of Wajax (TSE:WJX) to a hold rating in a report released on Thursday morning, Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets decreased their price target on Wajax from C$32.00 to C$30.00 in a report on Wednesday, July 24th. TD Securities lowered their price target on shares of Wajax from C$34.00 to C$30.00 and set a buy rating for the company in a research report on Tuesday, August 13th. Scotiabank set a C$29.00 price objective on shares of Wajax and gave the company a sector perform rating in a report on Wednesday, August 21st. Finally, National Bankshares set a C$26.00 target price on shares of Wajax and gave the company a sector perform rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of C$28.75.

Wajax Stock Performance

Wajax stock opened at C$25.50 on Thursday. The stock has a 50-day simple moving average of C$25.20 and a 200 day simple moving average of C$27.56. The stock has a market capitalization of C$554.12 million, a price-to-earnings ratio of 8.15, a P/E/G ratio of 0.50 and a beta of 1.81. The company has a quick ratio of 0.71, a current ratio of 1.91 and a debt-to-equity ratio of 103.38. Wajax has a 12-month low of C$23.15 and a 12-month high of C$34.96.

Wajax (TSE:WJX) last announced its earnings results on Thursday, August 8th. The company reported C$1.06 earnings per share (EPS) for the quarter. The company had revenue of C$568.30 million for the quarter. Wajax had a net margin of 3.32% and a return on equity of 14.06%. On average, research analysts anticipate that Wajax will post 3.8709677 earnings per share for the current fiscal year.

Wajax Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Monday, September 16th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend is Monday, September 16th. Wajax’s payout ratio is presently 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.