Scotiabank Has Negative Outlook of Wajax FY2024 Earnings

Wajax Co. (TSE:WJX - Free Report) - Equities researchers at Scotiabank dropped their FY2024 earnings per share (EPS) estimates for Wajax in a research report issued on Wednesday, January 8th. Scotiabank analyst J. Goldman now expects that the company will post earnings of $2.47 per share for the year, down from their previous forecast of $3.21. The consensus estimate for Wajax's current full-year earnings is $3.49 per share. Scotiabank also issued estimates for Wajax's FY2025 earnings at $2.67 EPS.

A number of other equities analysts have also commented on the stock. BMO Capital Markets decreased their price target on shares of Wajax from C$28.00 to C$24.00 in a report on Wednesday, November 6th. National Bank Financial raised Wajax to a "hold" rating in a research note on Thursday, September 26th. TD Securities dropped their price target on Wajax from C$30.00 to C$24.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Finally, National Bankshares set a C$26.00 price objective on Wajax and gave the company a "sector perform" rating in a research report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of C$24.50.

Wajax Price Performance

Shares of WJX stock traded down C$0.08 during trading on Monday, hitting C$20.14. The company had a trading volume of 20,595 shares, compared to its average volume of 51,306. The stock's 50-day moving average is C$21.78 and its two-hundred day moving average is C$24.10. The stock has a market capitalization of C$437.64 million, a price-to-earnings ratio of 6.43, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80. 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 52 week low of C$20.06 and a 52 week high of C$34.96.

Wajax Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 6.95%. Wajax's payout ratio is 44.73%.

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.