Scotiabank Has Bearish Forecast for Wajax FY2027 Earnings

Key Points

• Scotiabank cut its FY2027 EPS estimate for Wajax to $3.60 from $3.76, while keeping a Sector Perform rating and a $36.00 price target.
• Other analysts have also turned cautious on the stock, with consensus rating data showing Hold and an average price target of C$34.20.
• Wajax shares recently traded at C$31.20, near the middle of their 52-week range, and the company reported C$0.65 EPS on C$502.07 million in quarterly revenue in its latest earnings release.

Wajax Co. (TSE:WJX - Free Report) - Scotiabank lowered their FY2027 earnings per share estimates for shares of Wajax in a research report issued on Tuesday, July 7th. Scotiabank analyst J. Goldman now forecasts that the company will post earnings per share of $3.60 for the year, down from their previous estimate of $3.76. Scotiabank currently has a "Sector Perform" rating and a $36.00 target price on the stock. The consensus estimate for Wajax's current full-year earnings is $3.49 per share.

WJX has been the subject of several other research reports. National Bank Financial reduced their price objective on shares of Wajax from C$37.00 to C$34.00 and set an "outperform" rating for the company in a research report on Wednesday, May 6th. TD cut their target price on shares of Wajax from C$35.00 to C$33.00 and set a "hold" rating on the stock in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Wajax presently has a consensus rating of "Hold" and an average price target of C$34.20.

Wajax Price Performance

Shares of WJX opened at C$31.20 on Thursday. Wajax has a 52-week low of C$21.80 and a 52-week high of C$34.88. The company has a debt-to-equity ratio of 72.41, a quick ratio of 0.71 and a current ratio of 1.88. The business's 50 day moving average price is C$29.80 and its two-hundred day moving average price is C$30.17. The firm has a market cap of C$679.54 million, a PE ratio of 11.18, a price-to-earnings-growth ratio of 0.50 and a beta of 0.45.

Wajax (TSE:WJX - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported C$0.65 EPS for the quarter. Wajax had a return on equity of 11.63% and a net margin of 2.97%.The company had revenue of C$502.07 million for the quarter.

Insiders Place Their Bets

In other news, Director Jane Craighead acquired 1,100 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of C$28.84 per share, for a total transaction of C$31,724.00. Following the completion of the acquisition, the director directly owned 11,900 shares in the company, valued at C$343,196. The trade was a 10.19% increase in their position. Also, Director Thomas Malcolm Alford bought 5,000 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of C$29.15 per share, for a total transaction of C$145,750.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at C$145,750. This represents a ∞ increase in their ownership of the stock. Over the last quarter, insiders have bought 18,153 shares of company stock worth $535,312. Corporate insiders own 0.97% of the company's stock.

Wajax Company Profile

Wajax Corp is a Canadian distributor of industrial components. The company's core business is the sale of parts and service support of equipment, power systems, and industrial components through a network of branches in Canada. Most of its revenue is generated from the sale of equipment which includes machinery and components used for construction purposes and its industrial components find utility in businesses like mining, forestry, and material handling for other industrial purposes. It sells to leading manufacturer brands such as Hitachi, JCB, Bell, Hyster, Palfinger and other similar industries.

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