Wajax (TSE:WJX) Shares Down 16.8%

Wajax Co. (TSE:WJX) shares fell 16.8% during trading on Thursday . The company 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.

Analysts Set New Price Targets

WJX has been the subject of a number of recent research reports. Scotiabank increased their target price on Wajax from C$36.00 to C$37.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. BMO Capital Markets increased their price objective on shares of Wajax from C$34.00 to C$36.00 in a research report on Friday, April 19th. Finally, TD Securities boosted their target price on shares of Wajax from C$34.00 to C$37.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th.

Wajax Price Performance

The stock has a market capitalization of C$607.41 million, a P/E ratio of 8.18, a PEG ratio of 0.50 and a beta of 1.90. The company has a 50 day moving average of C$32.99 and a 200-day moving average of C$30.90. The company has a quick ratio of 0.71, a current ratio of 2.16 and a debt-to-equity ratio of 100.93.

Wajax (TSE:WJX) last issued its earnings results on Monday, March 4th. The company reported C$0.83 earnings per share for the quarter. Wajax had a net margin of 3.76% and a return on equity of 17.12%. The company had revenue of C$542.60 million for the quarter. Sell-side analysts predict that Wajax Co. will post 3.9178404 EPS for the current year.

Wajax Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were issued a $0.35 dividend. This is an increase from Wajax’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.40 annualized dividend and a dividend yield of 4.99%. Wajax’s dividend payout ratio (DPR) is 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.