National Bank Financial Weighs in on Wajax FY2024 Earnings

Wajax Co. (TSE:WJX) – Investment analysts at National Bank Financial decreased their FY2024 EPS estimates for Wajax in a report issued on Monday, November 4th. National Bank Financial analyst M. Sytchev now anticipates that the company will post earnings of $2.42 per share for the year, down from their previous forecast of $3.11. National Bank Financial has a “Hold” rating on the stock. The consensus estimate for Wajax’s current full-year earnings is $3.49 per share. National Bank Financial also issued estimates for Wajax’s Q4 2024 earnings at $0.38 EPS and FY2025 earnings at $2.66 EPS.

Wajax (TSE:WJX) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$1.06 earnings per share (EPS) for the quarter. The company had revenue of C$568.30 million during the quarter. Wajax had a net margin of 3.32% and a return on equity of 14.06%.

A number of other equities analysts have also weighed in on the stock. Scotiabank decreased their price objective on shares of Wajax from C$29.00 to C$24.00 in a report on Wednesday. TD Securities dropped their price objective on Wajax from C$30.00 to C$24.00 and set a “buy” rating on the stock in a research report on Wednesday. BMO Capital Markets decreased their target price on Wajax from C$28.00 to C$24.00 in a research report on Wednesday. Finally, National Bankshares set a C$26.00 price target on shares of Wajax and gave the company a “sector perform” rating in a report on Friday, September 27th. Four 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 stock has a consensus rating of “Hold” and an average target price of C$24.50.

Wajax Stock Performance

Wajax stock opened at C$20.86 on Thursday. Wajax has a twelve month low of C$20.44 and a twelve month high of C$34.96. The company has a market capitalization of C$453.29 million, a P/E ratio of 6.66, a PEG ratio of 0.50 and a beta of 1.80. The stock’s 50 day moving average is C$24.85 and its 200 day moving average is C$25.96. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date is Monday, December 16th. 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.