Wajax (TSE:WJX) Issues Earnings Results

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

Wajax Stock Performance

Shares of TSE:WJX traded up C$0.08 during midday trading on Monday, reaching C$33.76. The company’s stock had a trading volume of 31,788 shares, compared to its average volume of 68,388. The firm has a market capitalization of C$735.29 million, a PE ratio of 11.48, a P/E/G ratio of 0.50 and a beta of 0.18. Wajax has a twelve month low of C$24.40 and a twelve month high of C$40.00. The stock has a fifty day moving average of C$33.57 and a 200 day moving average of C$31.60. The company has a quick ratio of 0.71, a current ratio of 1.92 and a debt-to-equity ratio of 66.87.

Analyst Ratings Changes

WJX has been the topic of several research analyst reports. National Bank Financial boosted their price target on Wajax from C$36.00 to C$42.00 and gave the company an “outperform” rating in a research note 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 for the company in a research note on Tuesday, July 7th. Stifel Nicolaus set a C$45.00 price objective on Wajax and gave the stock a “buy” rating in a research note on Wednesday, September 30th. Finally, TD decreased their target price on Wajax from C$35.00 to C$34.00 and set a “hold” rating for the company in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$37.50.

Wajax Company Profile

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.