National Bank Financial Upgrades Wajax (TSE:WJX) to Hold

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

WJX has been the topic of a number of other research reports. TD Securities lowered their target price on Wajax from C$34.00 to C$30.00 and set a buy rating on the stock in a research report on Tuesday, August 13th. National Bankshares set a C$26.00 price objective on Wajax and gave the stock a sector perform rating in a research note on Friday. Scotiabank set a C$29.00 target price on shares of Wajax and gave the company a sector perform rating in a research note on Wednesday, August 21st. Finally, 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. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of C$28.75.

Wajax Price Performance

Shares of WJX opened at C$25.50 on Thursday. 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 twelve month low of C$23.15 and a twelve month high of C$34.96. The stock has a market capitalization of C$554.12 million, a P/E ratio of 8.15, a P/E/G ratio of 0.50 and a beta of 1.81. The company has a 50 day moving average of C$25.20 and a 200-day moving average of C$27.56.

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

Wajax Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Monday, September 16th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.49%. Wajax’s dividend payout ratio (DPR) is currently 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.