We see both Wajax and Calian rising even higher given their prospects and in-demand services. Meanwhile, they offer sustainable yields for investors. Both are buys.
WAJAX CORP., $24.38, is a buy. The company (Toronto symbol WJX; TSINetwork Rating: Extra Risk) (www.wajax.ca; Shares outstanding: 21.7 million; Market cap: $526.0 million; Dividend yield: 5.7%) sells and services 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 June 30, 2024, overall revenue fell 3.1%, to $568.3 million from $586.2 million a year earlier. Equipment sales declined primarily as a result of the delivery of a large mining shovel in the second quarter of 2023, which did not recur this year. Excluding one-time items, Wajax earned $22.9 million, or $1.06. That was down 15.4% from $27.1 million, or $1.26.
The company raised its quarterly dividend by 6.1% with the April…
Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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Legal Notices and Disclaimers
The contents of this web site and our publications are based upon sources of information believed to be reliable, but no warranty or representation, expressed or implied, is given as to their accuracy or completeness. Any opinion reflects the Successful Investor’s judgment at the date of publication and neither the Successful Investor, nor any of its affiliated companies, nor any of their officers, directors or employees, accepts any responsibility in respect of the information or recommendations contained in the publications or on this web site. Moreover, the information or recommendations are subject to change without notice.
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