Wajax (TSE:WJX) Shares Down 16.8%

Shares of Wajax Co. (TSE:WJX) dropped 16.8% during mid-day trading on Thursday . The stock traded as low as C$27.42 and last traded at C$28.05. Approximately 110,124 shares traded hands during mid-day trading, an increase of 272% from the average daily volume of 29,570 shares. The stock had previously closed at C$33.72.

Analyst Ratings Changes

A number of analysts recently commented on WJX shares. TD Securities lifted their price target on Wajax from C$34.00 to C$37.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Scotiabank dropped their target price on shares of Wajax from C$37.00 to C$35.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, BMO Capital Markets decreased their price target on shares of Wajax from C$36.00 to C$32.00 and set a “market perform” rating for the company in a research note on Friday.

Wajax Price Performance

The stock has a market cap of C$608.71 million, a P/E ratio of 7.72, a price-to-earnings-growth ratio of 0.50 and a beta of 1.90. The company has a quick ratio of 0.71, a current ratio of 2.16 and a debt-to-equity ratio of 100.93. The business’s 50-day simple moving average is C$32.81 and its two-hundred day simple moving average is C$30.87.

Wajax (TSE:WJX) last released its quarterly earnings data on Monday, March 4th. The company reported C$0.83 EPS 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 during the quarter. Sell-side analysts expect that Wajax Co. will post 3.9178404 EPS for the current year.

Wajax Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Friday, June 14th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.40 annualized dividend and a dividend yield of 4.98%. Wajax’s payout ratio is currently 38.46%.

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.