Shares of Wajax Co. (TSE:WJX – Get Free Report) traded down 16.8% during mid-day trading on Thursday . The stock traded as low as C$27.42 and last traded at C$28.05. 110,124 shares changed hands during trading, an increase of 272% from the average session volume of 29,570 shares. The stock had previously closed at C$33.72.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on WJX shares. Scotiabank upped their price objective on shares of Wajax from C$36.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. BMO Capital Markets boosted their target price on Wajax from C$34.00 to C$36.00 in a report on Friday, April 19th. Finally, TD Securities raised their price target on Wajax from C$34.00 to C$37.00 and gave the company a “buy” rating in a report on Wednesday, March 6th.
View Our Latest Stock Analysis on Wajax
Wajax Trading Down 16.9 %
Wajax (TSE:WJX – Get Free Report) last announced its earnings results on Monday, March 4th. The company reported C$0.83 earnings per share (EPS) for the quarter. The company 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%. As a group, analysts expect that Wajax Co. will post 3.9178404 EPS for the current year.
Wajax Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.99%. This is a positive change from Wajax’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, March 14th. Wajax’s dividend payout ratio (DPR) is presently 38.46%.
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.
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