Wajax (TSE:WJX) Share Price Crosses Above 200 Day Moving Average of $30.55

Wajax Co. (TSE:WJX)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$30.55 and traded as high as C$32.47. Wajax shares last traded at C$32.29, with a volume of 19,557 shares.

Wall Street Analyst Weigh In

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

Wajax Price Performance

The company has a debt-to-equity ratio of 100.93, a quick ratio of 0.71 and a current ratio of 2.16. The stock has a market cap of C$725.29 million, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 0.50 and a beta of 1.90. The business’s fifty day simple moving average is C$32.71 and its 200 day simple moving average is C$30.60.

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

Wajax Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Thursday, March 14th. This is a positive change from Wajax’s previous quarterly dividend of $0.33. Wajax’s dividend payout ratio is 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.