Buy Or Sell Opportunity • Jul 02
Now 20% overvalued Over the last 90 days, the stock has fallen 3.9% to CA$30.87. The fair value is estimated to be CA$25.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 21%. Upcoming Dividend • Jun 08
Upcoming dividend of CA$0.35 per share Eligible shareholders must have bought the stock before 15 June 2026. Payment date: 03 July 2026. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Canadian dividend payers (5.4%). Higher than average of industry peers (1.9%). Recent Insider Transactions • May 14
Independent Director recently bought CA$298k worth of stock On the 6th of May, Terrance McKibbon bought around 10k shares on-market at roughly CA$29.78 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$206k more in shares than they have sold in the last 12 months. Declared Dividend • May 11
First quarter dividend of CA$0.35 announced Dividend of CA$0.35 is the same as last year. Ex-date: 15th June 2026 Payment date: 3rd July 2026 Dividend yield will be 4.7%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Declared Dividend • Mar 05
Fourth quarter dividend of CA$0.35 announced Dividend of CA$0.35 is the same as last year. Ex-date: 16th March 2026 Payment date: 2nd April 2026 Dividend yield will be 4.1%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Price Target Changed • Mar 03
Price target increased by 14% to CA$31.00 Up from CA$27.25, the current price target is an average from 4 analysts. New target price is 8.2% below last closing price of CA$33.77. Stock is up 95% over the past year. The company posted earnings per share of CA$1.97 last year. Announcement • Mar 03
Wajax Corporation declares First Quarter 2026 Dividend, Payable on April 2, 2026 Wajax Corporation has declared a dividend of CAD 0.35 per share for the first quarter of 2026, payable on April 2, 2026, to shareholders of record on March 16, 2026. Announcement • Feb 24
Wajax Corporation, Annual General Meeting, May 05, 2026 Wajax Corporation, Annual General Meeting, May 05, 2026. Location: ontario, toronto Canada Upcoming Dividend • Dec 08
Upcoming dividend of CA$0.35 per share Eligible shareholders must have bought the stock before 15 December 2025. Payment date: 06 January 2026. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 5.1%. Lower than top quartile of Canadian dividend payers (5.9%). Higher than average of industry peers (2.4%). Recent Insider Transactions • Nov 23
Independent Director recently sold CA$165k worth of stock On the 20th of November, Thomas Alford sold around 6k shares on-market at roughly CA$27.09 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought CA$168k more than they sold in the last 12 months. Declared Dividend • Nov 06
Third quarter dividend of CA$0.35 announced Dividend of CA$0.35 is the same as last year. Ex-date: 15th December 2025 Payment date: 6th January 2026 Dividend yield will be 5.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 5.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 05
Wajax Corporation announces Quarterly dividend, payable on January 06, 2026 Wajax Corporation announced Quarterly dividend of CAD 0.3500 per share payable on January 06, 2026, ex-date on December 15, 2025 and record date on December 15, 2025. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: CA$0.77 (vs CA$0.29 in 3Q 2024) Third quarter 2025 results: EPS: CA$0.77 (up from CA$0.29 in 3Q 2024). Revenue: CA$483.1m (flat on 3Q 2024). Net income: CA$16.7m (up 161% from 3Q 2024). Profit margin: 3.5% (up from 1.3% in 3Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 4.5% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 08
Upcoming dividend of CA$0.35 per share Eligible shareholders must have bought the stock before 15 September 2025. Payment date: 02 October 2025. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 5.8%. Within top quartile of Canadian dividend payers (5.8%). Higher than average of industry peers (2.8%). Declared Dividend • Aug 13
Second quarter dividend of CA$0.35 announced Dividend of CA$0.35 is the same as last year. Ex-date: 15th September 2025 Payment date: 2nd October 2025 Dividend yield will be 6.1%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (85% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • Aug 10
Second quarter 2025 earnings released: EPS: CA$0.71 (vs CA$0.95 in 2Q 2024) Second quarter 2025 results: EPS: CA$0.71 (down from CA$0.95 in 2Q 2024). Revenue: CA$547.1m (down 3.7% from 2Q 2024). Net income: CA$15.5m (down 25% from 2Q 2024). Profit margin: 2.8% (down from 3.6% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Aug 08
Wajax Corporation Declares Quarterly Dividend, Payable on October 2, 2025 Wajax Corporation has declared a dividend of $0.35 per share for the third quarter of 2025, payable on October 2, 2025, to shareholders of record on September 15, 2025. Price Target Changed • Jul 22
Price target increased by 8.4% to CA$24.25 Up from CA$22.38, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CA$23.22. Stock is down 13% over the past year. The company posted earnings per share of CA$1.97 last year. Upcoming Dividend • Jun 09
Upcoming dividend of CA$0.35 per share Eligible shareholders must have bought the stock before 16 June 2025. Payment date: 03 July 2025. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 6.2%. Within top quartile of Canadian dividend payers (6.2%). Higher than average of industry peers (2.4%). Recent Insider Transactions • Jun 05
Chief Financial Officer recently bought CA$57k worth of stock On the 3rd of June, Tania Casadinho bought around 3k shares on-market at roughly CA$22.05 per share. This transaction amounted to 47% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth CA$306k. This was Tania's only on-market trade for the last 12 months. Announcement • Jun 05
Wajax Corporation Announces Appointment of Michael Hachey as Chief Operating Officer , Effective June 2, 2025 Wajax Corporation announced the appointment of Michael Hachey as Chief Operating Officer of the Corporation effective June 2, 2025. Reporting to Iggy Domagalski, President and Chief Executive Officer, Mr. Hachey will oversee the Corporation's operations, with a focus on operational excellence and building organizational capabilities. Mr. Hachey is an experienced senior executive with a strong background in operations and leadership across various sectors, including industrial and food services, automotive and retail. Most recently, he was Chief Operating Officer, Food Service and Hospitality, for Compass Group Canada ("CGC") and previously served as its Chief Innovation Officer and as President, Eurest Support Services (ESS) North America, a division of CGC. Between 2006 and 2014, Mr. Hachey held progressively senior operating roles at Mr. Lube, including Vice President of Retail Operations, Vice President of Operations, and Executive Vice President. He began his career in the audit practice at Ernst & Young before transitioning to finance roles at Bell Canada and Labatt Breweries of Canada. Mr. Hachey holds a Bachelor of Commerce from the University of Victoria and a Master of Business Administration from Queen's University. He is also a Chartered Accountant. Recent Insider Transactions • May 14
Insider recently sold CA$63k worth of stock On the 7th of May, Stuart Auld sold around 3k shares on-market at roughly CA$20.97 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought CA$457k more than they sold in the last 12 months. Recent Insider Transactions • May 09
Insider recently sold CA$63k worth of stock On the 7th of May, Stuart Auld sold around 3k shares on-market at roughly CA$20.97 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought CA$734k more than they sold in the last 12 months. Announcement • May 09
Wajax Corporation Appoints Susan Uthayakumar as Director Wajax Corporation, at its AGM held on May 6, 2025 appointed Susan Uthayakumar as director. Declared Dividend • May 08
First quarter dividend of CA$0.35 announced Dividend of CA$0.35 is the same as last year. Ex-date: 16th June 2025 Payment date: 3rd July 2025 Dividend yield will be 6.4%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (74% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 07
First quarter 2025 earnings released: EPS: CA$0.60 (vs CA$0.68 in 1Q 2024) First quarter 2025 results: EPS: CA$0.60 (down from CA$0.68 in 1Q 2024). Revenue: CA$555.0m (up 15% from 1Q 2024). Net income: CA$13.1m (down 11% from 1Q 2024). Profit margin: 2.4% (down from 3.1% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • May 07
Wajax Corporation Declares Dividend for the Second Quarter of 2025, Payable on July 3, 2025 Wajax Corporation declared a dividend of $0.35 per share for the second quarter of 2025, payable on July 3, 2025, to shareholders of record on June 16, 2025. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CA$20.70, the stock trades at a trailing P/E ratio of 10.5x. Average forward P/E is 10x in the Trade Distributors industry in Canada. Total returns to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$22.54 per share. Recent Insider Transactions • Mar 30
President recently bought CA$306k worth of stock On the 27th of March, Ignacy Domagalski bought around 18k shares on-market at roughly CA$17.50 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Ignacy's only on-market trade for the last 12 months. Recent Insider Transactions • Mar 13
Independent Director recently bought CA$90k worth of stock On the 11th of March, David Smith bought around 5k shares on-market at roughly CA$17.99 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$669k more in shares than they have sold in the last 12 months. Declared Dividend • Mar 06
Fourth quarter dividend of CA$0.35 announced Dividend of CA$0.35 is the same as last year. Ex-date: 14th March 2025 Payment date: 2nd April 2025 Dividend yield will be 7.7%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Price Target Changed • Mar 05
Price target decreased by 8.3% to CA$22.00 Down from CA$24.00, the current price target is an average from 4 analysts. New target price is 25% above last closing price of CA$17.60. Stock is down 46% over the past year. The company posted earnings per share of CA$1.97 last year. Announcement • Mar 05
Wajax Corporation announces Quarterly dividend, payable on April 02, 2025 Wajax Corporation announced Quarterly dividend of CAD 0.3500 per share payable on April 02, 2025, ex-date on March 14, 2025 and record date on March 14, 2025. Announcement • Mar 05
Wajax Corporation Declares Dividend for the First Quarter of 2025, Payable on April 2, 2025 Wajax Corporation has declared a dividend of $0.35 per share for the first quarter of 2025, payable on April 2, 2025, to shareholders of record on March 14, 2025. Reported Earnings • Mar 04
Full year 2024 earnings released: EPS: CA$1.97 (vs CA$3.77 in FY 2023) Full year 2024 results: EPS: CA$1.97 (down from CA$3.77 in FY 2023). Revenue: CA$2.10b (down 2.6% from FY 2023). Net income: CA$42.8m (down 47% from FY 2023). Profit margin: 2.0% (down from 3.8% in FY 2023). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year. Upcoming Dividend • Dec 09
Upcoming dividend of CA$0.35 per share Eligible shareholders must have bought the stock before 16 December 2024. Payment date: 07 January 2025. Payout ratio is a comfortable 57% and the cash payout ratio is 92%. Trailing yield: 5.9%. Lower than top quartile of Canadian dividend payers (6.2%). Higher than average of industry peers (2.5%). Declared Dividend • Nov 07
Third quarter dividend of CA$0.35 announced Shareholders will receive a dividend of CA$0.35. Ex-date: 16th December 2024 Payment date: 7th January 2025 Dividend yield will be 6.5%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (14% earnings payout ratio) but not adequately covered by cash flows (92% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 7.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Nov 05
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.5% Last year net profit margin: 4.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Dividend is not well covered by cash flows (92% cash payout ratio). Profit margins are more than 30% lower than last year (2.5% net profit margin). Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: CA$0.29 (vs CA$1.09 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.29 (down from CA$1.09 in 3Q 2023). Revenue: CA$481.0m (down 5.6% from 3Q 2023). Net income: CA$6.40m (down 73% from 3Q 2023). Profit margin: 1.3% (down from 4.6% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 09
Upcoming dividend of CA$0.35 per share Eligible shareholders must have bought the stock before 16 September 2024. Payment date: 02 October 2024. Payout ratio is a comfortable 42% but the company is paying out more than the cash it is generating. Trailing yield: 5.8%. Lower than top quartile of Canadian dividend payers (6.1%). Higher than average of industry peers (2.5%). Declared Dividend • Aug 14
Second quarter dividend of CA$0.35 announced Shareholders will receive a dividend of CA$0.35. Ex-date: 16th September 2024 Payment date: 2nd October 2024 Dividend yield will be 5.7%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (42% earnings payout ratio) but not covered by cash flows (dividend approximately 5x free cash flows). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Price Target Changed • Aug 13
Price target decreased by 12% to CA$29.00 Down from CA$33.00, the current price target is an average from 2 analysts. New target price is 21% above last closing price of CA$23.98. Stock is down 14% over the past year. The company posted earnings per share of CA$3.77 last year. Reported Earnings • Aug 11
Second quarter 2024 earnings released: EPS: CA$0.95 (vs CA$1.35 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.95 (down from CA$1.35 in 2Q 2023). Revenue: CA$568.3m (down 3.1% from 2Q 2023). Net income: CA$20.6m (down 29% from 2Q 2023). Profit margin: 3.6% (down from 4.9% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Aug 09
Wajax Corporation Declares Dividend for the Third Quarter of 2024, Payable on October 2, 2024 Wajax Corporation has declared a dividend of $0.35 per share for the third quarter of 2024, payable on October 2, 2024, to shareholders of record on September 16, 2024. Recent Insider Transactions • Jun 16
Independent Director recently bought CA$52k worth of stock On the 11th of June, Elizabeth Summers bought around 2k shares on-market at roughly CA$26.00 per share. This transaction increased Elizabeth's direct individual holding by 1x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth CA$200k. Insiders have collectively bought CA$1.0m more in shares than they have sold in the last 12 months. Upcoming Dividend • Jun 07
Upcoming dividend of CA$0.35 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 03 July 2024. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 5.3%. Lower than top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (2.4%). Recent Insider Transactions • May 21
Independent Chairman of the Board recently bought CA$100k worth of stock On the 14th of May, Edward Barrett bought around 4k shares on-market at roughly CA$27.08 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth CA$200k. Edward has been a buyer over the last 12 months, purchasing a net total of CA$594k worth in shares. Recent Insider Transactions • May 16
Independent Chairman of the Board recently bought CA$200k worth of stock On the 10th of May, Edward Barrett bought around 7k shares on-market at roughly CA$26.98 per share. This transaction amounted to 68% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Edward has been a buyer over the last 12 months, purchasing a net total of CA$494k worth in shares. Valuation Update With 7 Day Price Move • May 08
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CA$26.71, the stock trades at a trailing P/E ratio of 7.4x. Average forward P/E is 10x in the Trade Distributors industry in Canada. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$41.50 per share. Announcement • May 08
Wajax Corporation Announces Board Changes Wajax Corporation at its Annual Meeting of Shareholders held on May 2, 2024, elected Susan Uthayakumar as director. Sylvia D. Chrominska, a director of the Corporation since 2015 and Douglas A. Carty, a director of the Corporation since 2011, retired from the board at the conclusion of the meeting. Price Target Changed • May 06
Price target decreased by 8.2% to CA$33.67 Down from CA$36.67, the current price target is an average from 3 analysts. New target price is 22% above last closing price of CA$27.61. Stock is up 20% over the past year. The company posted earnings per share of CA$3.77 last year. Declared Dividend • May 06
First quarter dividend of CA$0.35 announced Shareholders will receive a dividend of CA$0.35. Ex-date: 14th June 2024 Payment date: 3rd July 2024 Dividend yield will be 4.9%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • May 05
Independent Director recently bought CA$142k worth of stock On the 3rd of May, David Smith bought around 5k shares on-market at roughly CA$28.35 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$652k more in shares than they have sold in the last 12 months. Reported Earnings • May 02
First quarter 2024 earnings released: EPS: CA$0.68 (vs CA$0.81 in 1Q 2023) First quarter 2024 results: EPS: CA$0.68 (down from CA$0.81 in 1Q 2023). Revenue: CA$482.3m (down 6.5% from 1Q 2023). Net income: CA$14.7m (down 16% from 1Q 2023). Profit margin: 3.1% (down from 3.4% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 02
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to CA$28.03. The fair value is estimated to be CA$36.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 20%. Announcement • May 02
Wajax Corporation Declares Dividend for the Second Quarter of 2024, Payable on July 3, 2024 Wajax Corporation has declared a dividend of $0.35 per share for the second quarter of 2024, payable on July 3, 2024, to shareholders of record on June 14, 2024. Price Target Changed • Apr 19
Price target increased by 8.9% to CA$36.67 Up from CA$33.67, the current price target is an average from 3 analysts. New target price is 9.6% above last closing price of CA$33.47. Stock is up 40% over the past year. The company posted earnings per share of CA$3.77 last year. Declared Dividend • Mar 08
Fourth quarter dividend increased to CA$0.35 Dividend of CA$0.35 is 6.1% higher than last year. Ex-date: 14th March 2024 Payment date: 2nd April 2024 Dividend yield will be 4.1%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: CA$3.77 (vs CA$3.38 in FY 2022) Full year 2023 results: EPS: CA$3.77 (up from CA$3.38 in FY 2022). Revenue: CA$2.15b (up 9.8% from FY 2022). Net income: CA$81.0m (up 12% from FY 2022). Profit margin: 3.8% (up from 3.7% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Mar 05
Wajax Corporation Declares Dividend for the First Quarter of 2024, Payable on April 2, 2024 Wajax Corporation announced that its Board of Directors has approved a 6% increase in the Corporation's quarterly dividend. The Corporation has declared a dividend of $0.35 per share for the first quarter of 2024, payable on April 2, 2024, to shareholders of record on March 15, 2024. Buy Or Sell Opportunity • Jan 23
Now 22% undervalued Over the last 90 days, the stock has risen 8.5% to CA$31.26. The fair value is estimated to be CA$40.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 28%. Upcoming Dividend • Dec 07
Upcoming dividend of CA$0.33 per share at 4.7% yield Eligible shareholders must have bought the stock before 14 December 2023. Payment date: 03 January 2024. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 4.7%. Lower than top quartile of Canadian dividend payers (6.6%). Higher than average of industry peers (2.5%). Announcement • Nov 24
Wajax Corporation, Annual General Meeting, May 02, 2024 Wajax Corporation, Annual General Meeting, May 02, 2024, at 11:00 US Eastern Standard Time. Recent Insider Transactions • Nov 12
Independent Director recently bought CA$139k worth of stock On the 9th of November, David Smith bought around 5k shares on-market at roughly CA$27.71 per share. This transaction increased David's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$227k more in shares than they have sold in the last 12 months. Announcement • Nov 09
Wajax Corporation Declares Dividend for the Fourth Quarter of 2023, Payable on January 3, 2024 Wajax Corporation has declared a dividend of CAD 0.33 per share for the fourth quarter of 2023, payable on January 3, 2024, to shareholders of record on December 15, 2023. Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: CA$1.09 (vs CA$0.84 in 3Q 2022) Third quarter 2023 results: EPS: CA$1.09 (up from CA$0.84 in 3Q 2022). Revenue: CA$509.7m (up 8.3% from 3Q 2022). Net income: CA$23.4m (up 30% from 3Q 2022). Profit margin: 4.6% (up from 3.8% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, while revenues in the Trade Distributors industry in Canada are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 07
Upcoming dividend of CA$0.33 per share at 4.5% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 03 October 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of Canadian dividend payers (6.2%). Higher than average of industry peers (2.3%). Announcement • Sep 02
Wajax Corporation (TSX:WJX) acquired Beta Fluid Power Ltd. And Beta Industrial Ltd. Wajax Corporation (TSX:WJX) acquired Beta Fluid Power Ltd. And Beta Industrial Ltd. on September 1, 2023. The transaction will be subject to normal post-closing adjustments.
Wajax Corporation (TSX:WJX) completed the acquisition of Beta Fluid Power Ltd. And Beta Industrial Ltd. on September 1, 2023. Price Target Changed • Aug 14
Price target increased by 12% to CA$33.67 Up from CA$30.00, the current price target is an average from 3 analysts. New target price is 19% above last closing price of CA$28.29. Stock is up 26% over the past year. The company posted earnings per share of CA$3.38 last year. New Risk • Aug 14
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (24% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: CA$1.35 (vs CA$1.01 in 2Q 2022) Second quarter 2023 results: EPS: CA$1.35 (up from CA$1.01 in 2Q 2022). Revenue: CA$586.2m (up 15% from 2Q 2022). Net income: CA$29.0m (up 34% from 2Q 2022). Profit margin: 4.9% (up from 4.3% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 11
Wajax Corporation Declares a Dividend for the Third Quarter of 2023, Payable on October 3, 2023 Wajax Corporation has declared a dividend of $0.33 per share for the third quarter of 2023, payable on October 3, 2023, to shareholders of record on September 15, 2023. Upcoming Dividend • Jun 07
Upcoming dividend of CA$0.33 per share at 5.6% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 05 July 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Canadian dividend payers (6.2%). Higher than average of industry peers (2.5%). Announcement • May 06
Wajax Corporation Announces Board Appointments Wajax Corporation announced that David G. Smith and Elizabeth A. Summers have each been appointed to the Audit and Human Resources and Compensation Committees of the board, and that A. Jane Craighead has been appointed chair of the Human Resources and Compensation Committee of the board. Price Target Changed • Mar 09
Price target increased by 11% to CA$28.25 Up from CA$25.50, the current price target is an average from 4 analysts. New target price is 11% above last closing price of CA$25.45. Stock is up 27% over the past year. The company posted earnings per share of CA$3.38 last year. Reported Earnings • Mar 09
Full year 2022 earnings released: EPS: CA$3.38 (vs CA$2.50 in FY 2021) Full year 2022 results: EPS: CA$3.38 (up from CA$2.50 in FY 2021). Revenue: CA$1.96b (up 20% from FY 2021). Net income: CA$72.4m (up 36% from FY 2021). Profit margin: 3.7% (up from 3.3% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, while revenues in the Trade Distributors industry in Canada are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Dec 07
Upcoming dividend of CA$0.25 per share Eligible shareholders must have bought the stock before 14 December 2022. Payment date: 04 January 2023. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 5.1%. Lower than top quartile of Canadian dividend payers (5.7%). Higher than average of industry peers (2.6%).