Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, May 18, 2012

Article Excerpt

WAJAX CORP., $49.00, symbol WJX on Toronto, sells and services cranes, forklifts and other heavy equipment. It also sells related parts (such as bearings, motors, hoses and fittings) and power systems (including diesel engines and transmissions). In the three months ended March 31, 2012, Wajax’s revenue rose 17.8%, to $358.1 million from $303.9 million a year earlier. Demand remained strong across all of the company’s markets. Earnings rose 33.6%, to $17.1 million, or $1.03 a share, from $12.8 million, or $0.77 a share. 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%. Wajax’s prospects are closely tied to Canada’s economic growth. But the country’s short- and long-term outlook remains positive. Wajax is a buy. Wajax was recently covered in the May 2012 issue of Stock Pickers Digest. Click here to access it. LEON’S FURNITURE LTD…