Wajax Corp

WJX-T

Analysis and Opinions about WJX-T

Signal
Opinion
Expert
TOP PICK
TOP PICK
February 26, 2013

Short. He has a negative view on the Canadian construction market. This company is a large distributor of heavy equipment. Prices on heavy equipment are falling quite dramatically. Missed on their 3rd quarter results. Yield of 7.31%.

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Wajax Corp (WJX-T)
February 26, 2013

Short. He has a negative view on the Canadian construction market. This company is a large distributor of heavy equipment. Prices on heavy equipment are falling quite dramatically. Missed on their 3rd quarter results. Yield of 7.31%.

DON'T BUY
DON'T BUY
February 22, 2013

A lot of exposure indirectly to commodities in the oil sands and mining. With the whole Keystone issue and concerns around some of the CapX in the oil sands slowing down he is on the sidelines with some of these names.

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Wajax Corp (WJX-T)
February 22, 2013

A lot of exposure indirectly to commodities in the oil sands and mining. With the whole Keystone issue and concerns around some of the CapX in the oil sands slowing down he is on the sidelines with some of these names.

COMMENT
COMMENT
January 14, 2013

Believes the 8.1% dividend is sustainable as long as the economy bumps along. They have the cash flow to pay the dividend.

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Wajax Corp (WJX-T)
January 14, 2013

Believes the 8.1% dividend is sustainable as long as the economy bumps along. They have the cash flow to pay the dividend.

COMMENT
COMMENT
January 8, 2013

Not a very glamorous company but a “Steady Eddie”. Involved in all kinds of industrial stuff. Not expensive but he doesn’t find it a particularly interesting company. If he owned, the next time it popped up in price, he would take profits. 7.4% dividend yield.

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Wajax Corp (WJX-T)
January 8, 2013

Not a very glamorous company but a “Steady Eddie”. Involved in all kinds of industrial stuff. Not expensive but he doesn’t find it a particularly interesting company. If he owned, the next time it popped up in price, he would take profits. 7.4% dividend yield.

COMMENT
COMMENT
December 18, 2012

Equipment company with about 50% revenues coming from heavy trucks, 25% from industrial components and 25% from power systems. A play on economic growth in Canada. Purchased some big trucks on spec that they are planning on selling in 2013, which is a little bit concerning. Very clean balance sheet EBITDA is 0.5X. Management has publicly said that as long as the EBITDA is lower than 1.5-2, they will use debt to sustain the dividend.

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Wajax Corp (WJX-T)
December 18, 2012

Equipment company with about 50% revenues coming from heavy trucks, 25% from industrial components and 25% from power systems. A play on economic growth in Canada. Purchased some big trucks on spec that they are planning on selling in 2013, which is a little bit concerning. Very clean balance sheet EBITDA is 0.5X. Management has publicly said that as long as the EBITDA is lower than 1.5-2, they will use debt to sustain the dividend.

BUY
BUY
November 12, 2012

(Market Call Minute) The distribution of capital equipment used in mining and infrastructure continues to be a growth area.

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Wajax Corp (WJX-T)
November 12, 2012

(Market Call Minute) The distribution of capital equipment used in mining and infrastructure continues to be a growth area.

COMMENT
COMMENT
October 25, 2012

The dividend of about 7% is probably at risk. This stock has not done that great recently because the economy is slowing down. They are dependent on construction and the economy.

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Wajax Corp (WJX-T)
October 25, 2012

The dividend of about 7% is probably at risk. This stock has not done that great recently because the economy is slowing down. They are dependent on construction and the economy.

COMMENT
COMMENT
October 1, 2012

Company is a little more cautious on 2nd half guidance and some softening power systems sales. However, order quoting activity is still pretty robust. Pretty expensive valuation trading at 7.5X to EBITDA versus Finning (FTT-T) at 6.2. Payout ratios are fine for 2012-2013. You are really buying this for yield and if there is “risk on” in the market this name could go higher.

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Wajax Corp (WJX-T)
October 1, 2012

Company is a little more cautious on 2nd half guidance and some softening power systems sales. However, order quoting activity is still pretty robust. Pretty expensive valuation trading at 7.5X to EBITDA versus Finning (FTT-T) at 6.2. Payout ratios are fine for 2012-2013. You are really buying this for yield and if there is “risk on” in the market this name could go higher.

HOLD
HOLD
September 5, 2012

Equipment distributor for construction and mining. Has a very attractive yield. Longer-term, she is positive on mining and construction.

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Wajax Corp (WJX-T)
September 5, 2012

Equipment distributor for construction and mining. Has a very attractive yield. Longer-term, she is positive on mining and construction.

COMMENT
COMMENT
August 27, 2012

Very effective company and to see them hold up as well as they have in this environment, is good. Looks like it is selling at a bit of a premium but the 6.8% dividend is very attractive.

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Wajax Corp (WJX-T)
August 27, 2012

Very effective company and to see them hold up as well as they have in this environment, is good. Looks like it is selling at a bit of a premium but the 6.8% dividend is very attractive.

COMMENT
COMMENT
July 24, 2012
Well-managed company. In a cyclical sector but the dividend policy is fairly conservative so the 6.9% dividend should hold up.
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Wajax Corp (WJX-T)
July 24, 2012
Well-managed company. In a cyclical sector but the dividend policy is fairly conservative so the 6.9% dividend should hold up.
HOLD
HOLD
July 10, 2012
Major supplier of equipment to the mining and resource sector and will participate to a great extent to what is happening in that sector. He is generally positive for the long term. Dividend should be safe for the time being. Well managed. 6.6% dividend yield.
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Wajax Corp (WJX-T)
July 10, 2012
Major supplier of equipment to the mining and resource sector and will participate to a great extent to what is happening in that sector. He is generally positive for the long term. Dividend should be safe for the time being. Well managed. 6.6% dividend yield.
BUY WEAKNESS
BUY WEAKNESS
June 21, 2012
Thinks it just broke down through the 100 day moving average today. Was just included in the index recently so it is not atypical for the stock to move around a lot, even if this market is falling the way it is. Has gotten really pricey trading around 7X enterprise value in the next 12 months EBITDA which is about double that of Freeport McMoran (FCX-N). Yield is good at about 7% with a 75% payout ratio. Management says their order book is very full and strong despite the European and Chinese problems. Try to Buy at the 200 day moving average.
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Wajax Corp (WJX-T)
June 21, 2012
Thinks it just broke down through the 100 day moving average today. Was just included in the index recently so it is not atypical for the stock to move around a lot, even if this market is falling the way it is. Has gotten really pricey trading around 7X enterprise value in the next 12 months EBITDA which is about double that of Freeport McMoran (FCX-N). Yield is good at about 7% with a 75% payout ratio. Management says their order book is very full and strong despite the European and Chinese problems. Try to Buy at the 200 day moving average.
DON'T BUY
DON'T BUY
June 18, 2012
Steady Eddie type of company. Doesn't screen that cheaply for him. From an income point of view, this is not one that he would be recommending.
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Wajax Corp (WJX-T)
June 18, 2012
Steady Eddie type of company. Doesn't screen that cheaply for him. From an income point of view, this is not one that he would be recommending.
COMMENT
COMMENT
May 24, 2012
A good company. Has done quite well. Dividend is safe.
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Wajax Corp (WJX-T)
May 24, 2012
A good company. Has done quite well. Dividend is safe.
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