Wajax (TSE:WJX) Posts Quarterly Earnings Results

Wajax (TSE:WJX) released its quarterly earnings data on Monday. The company reported C$0.65 EPS for the quarter, FiscalAI reports. Wajax had a net margin of 2.68% and a return on equity of 10.91%. The business had revenue of C$502.07 million for the quarter.

Wajax Trading Down 13.7%

Shares of WJX stock opened at C$29.30 on Wednesday. The firm has a 50-day moving average price of C$32.29 and a 200 day moving average price of C$29.14. Wajax has a twelve month low of C$19.15 and a twelve month high of C$34.88. The company has a market capitalization of C$639.27 million, a price-to-earnings ratio of 11.36, a PEG ratio of 0.50 and a beta of 0.59. The company has a current ratio of 2.14, a quick ratio of 0.71 and a debt-to-equity ratio of 78.49.

Wall Street Analysts Forecast Growth

WJX has been the topic of several recent research reports. TD Securities boosted their price objective on shares of Wajax from C$28.00 to C$34.00 and gave the stock a “hold” rating in a research report on Wednesday, March 4th. Scotiabank decreased their price objective on shares of Wajax from C$38.00 to C$37.00 and set a “sector perform” rating on the stock in a research report on Tuesday. National Bank Financial upgraded shares of Wajax from a “hold” rating to an “outperform” rating and boosted their price objective for the stock from C$27.00 to C$37.00 in a research report on Tuesday, March 3rd. Finally, BMO Capital Markets decreased their price objective on shares of Wajax from C$40.00 to C$34.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Wajax has an average rating of “Hold” and a consensus target price of C$35.50.

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.