ATB Cormark Capital Markets Issues Pessimistic Forecast for WSP Global (TSE:WSP) Stock Price

Key Points

• ATB Cormark lowered its price target for WSP Global from C$330 to C$325 while maintaining an “outperform” rating, implying 73.07% upside from the prior close.
• Despite several target reductions from other brokerages, analyst sentiment remains positive: WSP has a consensus “Buy” rating and an average target price of C$297.17.
• WSP shares fell 2.5% to C$187.78, while the company reported quarterly EPS of C$2.88 on C$5.40 billion in revenue; a director also increased her holdings by 69.47% through an open-market purchase.

WSP Global (TSE:WSP - Get Free Report) had its price target lowered by stock analysts at ATB Cormark Capital Markets from C$330.00 to C$325.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price objective points to a potential upside of 73.07% from the company's previous close.

Other analysts have also issued research reports about the company. Stifel Nicolaus reduced their target price on 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. TD dropped their price objective on WSP Global from C$307.00 to C$255.00 and set a "buy" rating on the stock in a research report on Tuesday, July 28th. Canaccord Genuity Group reduced their price objective on WSP Global from C$345.00 to C$315.00 and set a "buy" rating for the company in a report on Friday, May 8th. BMO Capital Markets upped their target price on shares of WSP Global from C$272.00 to C$280.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Desjardins set a C$372.00 price target on shares of WSP Global and gave the company a "buy" rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of C$297.17.

WSP Global Stock Down 2.5%

TSE:WSP traded down C$4.78 on Friday, reaching C$187.78. 621,937 shares of the stock traded hands, compared to its average volume of 525,910. The company has a market capitalization of C$25.32 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 1.09 and a beta of 0.19. The company has a current ratio of 1.19, a quick ratio of 1.04 and a debt-to-equity ratio of 87.04. WSP Global has a 12 month low of C$156.64 and a 12 month high of C$291.46. The company's fifty day simple moving average is C$177.73 and its 200 day simple moving average is C$210.19.

WSP Global (TSE:WSP - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported C$2.88 earnings per share (EPS) for the quarter. The firm had revenue of C$5.40 billion for the quarter. WSP Global had a net margin of 5.23% and a return on equity of 10.39%. Equities analysts predict that WSP Global will post 9.5687404 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Pascale Sourisse bought 364 shares of the company's stock in a transaction on Wednesday, June 24th. The shares were acquired at an average cost of C$172.02 per share, with a total value of C$62,615.28. Following the completion of the transaction, the director owned 888 shares of the company's stock, valued at approximately C$152,753.76. This trade represents a 69.47% increase in their position. Corporate insiders own 0.06% of the company's stock.

About WSP Global

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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