ATB Cormark Capital Markets Cuts WSP Global (TSE:WSP) Price Target to C$330.00

Key Points

• ATB Cormark Capital Markets cut its price target on WSP Global from C$335 to C$330, while keeping an outperform rating. The new target still implies significant upside from the stock’s prior close.
• Other analysts have also adjusted views on WSP recently, with most maintaining positive ratings; the stock currently has a consensus “Buy” rating and an average target price of C$313.42.
• WSP Global shares fell on Friday to C$215.04 after reporting quarterly earnings of C$2.21 per share and revenue of C$4.55 billion. The company also remains well below its 12-month high of C$291.46.

WSP Global (TSE:WSP - Get Free Report) had its price objective lowered by ATB Cormark Capital Markets from C$335.00 to C$330.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. ATB Cormark Capital Markets' target price suggests a potential upside of 53.46% from the stock's previous close.

Several other brokerages also recently issued reports on WSP. TD lowered their price target on shares of WSP Global from C$308.00 to C$307.00 and set a "buy" rating for the company in a report on Tuesday, April 28th. Royal Bank Of Canada upped their price target on shares of WSP Global from C$316.00 to C$325.00 in a report on Friday, February 27th. Scotiabank upped their price target on shares of WSP Global from C$284.00 to C$286.00 and gave the stock an "outperform" rating in a report on Monday, April 13th. National Bank Financial upped their price target on shares of WSP Global from C$268.00 to C$272.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Stifel Nicolaus lowered their price target on shares of WSP Global from C$320.00 to C$280.00 and set a "buy" rating for the company in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to data from MarketBeat, WSP Global has a consensus rating of "Buy" and an average target price of C$313.42.

WSP Global Stock Performance

Shares of TSE:WSP traded down C$9.14 during trading on Friday, reaching C$215.04. 323,636 shares of the stock were exchanged, compared to its average volume of 481,277. The stock has a 50-day moving average price of C$224.11 and a 200-day moving average price of C$243.52. The firm has a market cap of C$28.99 billion, a PE ratio of 29.22, a PEG ratio of 1.09 and a beta of 0.28. The company has a current ratio of 1.27, a quick ratio of 1.04 and a debt-to-equity ratio of 59.38. WSP Global has a 12 month low of C$210.86 and a 12 month high of C$291.46.

WSP Global (TSE:WSP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$2.21 earnings per share (EPS) for the quarter. The company had revenue of C$4.55 billion during the quarter. WSP Global had a net margin of 5.27% and a return on equity of 10.86%. Research analysts expect that WSP Global will post 9.5687404 EPS for the current fiscal year.

WSP Global Company Profile

WSP Global Inc provides engineering and design services to clients in the Transportation & Infrastructure, Property and Buildings, Environment, Power and Energy, Resources, and Industry sectors. It also offers strategic advisory services. The firm operates through four reportable segments namely, Canada, Americas ( US and Latin America), EMEIA (Europe, Middle East, India and Africa), and APAC (Asia Pacific, comprising Australia, New Zealand and Asia).

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