Wajax (TSE:WJX) Releases Earnings Results

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

Wajax Stock Up 0.2%

Wajax stock opened at C$33.76 on Tuesday. The company’s 50-day moving average price is C$33.64 and its two-hundred day moving average price is C$31.62. The company has a quick ratio of 0.71, a current ratio of 1.92 and a debt-to-equity ratio of 66.87. The stock has a market cap of C$735.29 million, a P/E 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.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. TD decreased their target price on Wajax from C$35.00 to C$34.00 and set a “hold” rating on the stock in a report on Monday, August 10th. National Bank Financial raised their price target on Wajax from C$36.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, October 15th. Stifel Nicolaus set a C$45.00 price objective on shares of Wajax and gave the stock a “buy” rating in a research report on Wednesday, September 30th. Finally, Scotiabank decreased their price objective on shares of Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average 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.