A positive outlook for the Canadian economy will continue to boost stocks across many industries. Some stocks benefit by supplying different industries, like this heavy equipment supplier we have just added it to the list of growth stocks we cover in our newsletter for aggressive investing, Stock Pickers Digest.
WAJAX CORP. (Toronto symbol WJX; www.wajax.ca) sells and services heavy equipment, including cranes and forklifts. It also sells related parts (such as bearings, motors, hoses and fittings) and power systems (including diesel engines and transmissions).
Wajax operates through 117 dealerships across Canada. Its customers are in the natural resource, construction, manufacturing, industrial processing and transportation industries.
In the three months ended December 31, 2011, Wajax’s revenue rose 19.2%, to $377.2 million from $316.4 million a year earlier. Demand remained strong across all of the company’s markets.
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Growth stocks: Wajax sees strong demand in all markets
In the three months ended December 31, 2011, Wajax’s revenue rose 19.2%, to $377.2 million from $316.4 million a year earlier. Demand remained strong across all of the company’s markets.
COMMENTS PLEASE
Wajax trades at just 11.9 times this year’s forecast earnings of $4.12 a share. Of course, that p/e (the ratio of per-share price to per-share earnings) can change drastically if Wajax fails to live up to – or beats – its forecast earnings. How much faith do you put in per-share earnings forecasts? What other factors do you see as having equal or more importance? Click here
Earnings rose 4.9%, to $16.6 million, or $1.00 a share, from $15.8 million, or $0.95 a share. Earnings rose at a slower pace than revenue because the company had to start paying income tax in the latest quarter (a total of $5.9 million). It did not pay taxes a year earlier, when it was still an income trust. Cash flow per share jumped 43.3%, to $1.72 from $1.20.
The stock trades at just 11.9 times this year’s forecast earnings of $4.12 a share. The company raised its monthly dividend by 35% with the March 2012 payment, to $0.27 a share from $0.20. The stock now yields a high 6.6%.
In the latest edition of Stock Pickers Digest, we look at the short- and long-term outlook for the Canadian economy and how that is likely to impact Wajax’s ability to keep growing. We conclude with our clear buy-hold-sell advice.
In the new issue of Stock Pickers Digest, you get the latest on the rise of Alimentation Couche-Tard, our #1 Stock Pick of the Year, plus advice on 20 more stocks with exceptional profit potential. As a new subscriber, you save $50.00—plus you get FREE the report, “My #1 Aggressive Stock Pick for 2012”, which also contains my Conservative Stock Pick of the Year and U.S. Stock Pick of the Year. Click here to get started now.
Comments
Alain
As usual Pat hit another great stock for all of us. However this stops moves like a “jelly bean” It jumps up and fall back to its initial place. There is a lack of floor to keep it high. I mean that number of buyers is too small to maintain the stock at a higher level. So, each time a buyer takes some shares, Wajax jumps. Since no other buyers remain close enough to the paid price Wajax gets back to its initial place. I believe into this great Wajax Company and I bought few hundred shares, because I firmly believes that on short term numbers of buyers will exceeds number of sellers and Wajax will reach new summits.
A special thank to Pat for all his recommendations since on short term none is bad. See Alimentation Couche-Tard today with its tremendous gain. I also have faith that this last stock will double within 12 months.
A.C.
I look at cash flow and debt status as well as dividends ( if any) record over at least 8 years and lastly, who are the customers and where do they live?
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As usual Pat hit another great stock for all of us. However this stops moves like a “jelly bean” It jumps up and fall back to its initial place. There is a lack of floor to keep it high. I mean that number of buyers is too small to maintain the stock at a higher level. So, each time a buyer takes some shares, Wajax jumps. Since no other buyers remain close enough to the paid price Wajax gets back to its initial place. I believe into this great Wajax Company and I bought few hundred shares, because I firmly believes that on short term numbers of buyers will exceeds number of sellers and Wajax will reach new summits.
A special thank to Pat for all his recommendations since on short term none is bad. See Alimentation Couche-Tard today with its tremendous gain. I also have faith that this last stock will double within 12 months.
A.C.
Sorry my dictionary makes a lots of changes which upsets me with so many misspelling that challenge any reader.
I look at cash flow and debt status as well as dividends ( if any) record over at least 8 years and lastly, who are the customers and where do they live?