20:42:34 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Wajax Corp
Symbol WJX
Shares Issued 16,778,883
Close 2015-03-04 C$ 24.85
Market Cap C$ 416,955,243
Recent Sedar Documents

Globe says Tupholme hikes Wajax to "hold" from "reduce"

2015-03-05 06:34 ET - In the News

The Globe and Mail reports in its Thursday, March 5, edition that Wajax ($24.85) posted fourth quarter earnings per share of 65 cents Wednesday, significantly below the consensus of 78 cents. The Globe's David Kennedy writes in the Eye On Equities column that along with the results, Wajax cut its dividend by 58 per cent and announced a new long-term strategy. Despite the negative results, the changes prompted TD Securities analyst Michael Tupholme to upgrade his rating to "hold" from "reduce." Mr. Tupholme says, "With the negative catalyst of a cut in dividend now out of the way and with the stock's valuation looking less stretched today compared with what it was earlier this year, we are moving our rating to hold." Mr. Tupholme also bumped up his price target to $25 from $24. The consensus target for Wajax is 27.42. Meantime, RBC raised the stock to "outperform" from "sector perform." The stock, however, was also lowered to "market perform" from "outperform" by BMO Nesbitt Burns. Its 12-month target price is $26 per share. Mr. Tupholme downgraded Wajax to "reduce" from "hold" in the Eye column on Jan. 8, 2015. He cut his price target by $12 to $24. The shares were then going for $26.92.

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