Topic: How To Invest

Power Growth Investor Hotline – Friday, March 8, 2024

Article Excerpt

WAJAX CORP., $32.07, is a buy. Through their shares, investors benefit from the company’s (symbol WJX on Toronto) sales and servicing of cranes, forklifts and other heavy equipment. Wajax also provides related parts and systems such as ball bearings, hoses, diesel engines and transmissions. The company’s customers are spread across the resources, construction, manufacturing and transportation industries. In the quarter ended December 31, 2023, overall revenue climbed 0.2%, to $542.6 million from $541.3 million a year earlier. Excluding one-time items, Wajax earned $17.8 million, or $0.83. That was unchanged from a year ago. Business conditions due to COVID-19 hurt the company’s results in 2021. However, volumes improved steadily through the end of 2022; customer activity continued to climb in 2023. The company raised its quarterly dividend by 6.1% with the April 2024 payment, to $0.35 a share from $0.33. The stock now yields a high 4.4%. Wajax Corp. is a buy. Wajax recent coverage: December 2023 issue Hotline for November 10, 2023 WARNER MUSIC GROUP CORP.,…