BMO Capital Markets Cuts WSP Global (TSE:WSP) Price Target to C$272.00

Key Points

• BMO Capital Markets lowered its price target on WSP Global to C$272 from C$278, implying about 56% upside from the prior close.
• Other analysts have also trimmed their targets recently, though the stock still carries a consensus Buy rating and an average price target of C$300.50.
• WSP Global shares were trading at C$174.00, near their 52-week low, while the company also reported C$2.21 EPS and C$4.55 billion in quarterly revenue in its latest results.

WSP Global (TSE:WSP - Get Free Report) had its price objective decreased by stock analysts at BMO Capital Markets from C$278.00 to C$272.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. BMO Capital Markets' price objective would suggest a potential upside of 56.32% from the company's previous close.

A number of other research analysts also recently weighed in on WSP. Scotiabank cut their price objective on WSP Global from C$286.00 to C$281.00 and set a "sector outperform" rating on the stock in a research note on Friday. Desjardins decreased their price objective on shares of WSP Global from C$375.00 to C$372.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Stifel Nicolaus lowered their price objective on WSP Global from C$320.00 to C$280.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Canadian Imperial Bank of Commerce dropped their price objective on shares of WSP Global from C$318.00 to C$266.00 and set an "outperformer" rating for the company in a report on Wednesday, July 8th. Finally, ATB Cormark Capital Markets cut their target price on shares of WSP Global from C$335.00 to C$330.00 and set an "outperform" rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. According to MarketBeat, WSP Global presently has a consensus rating of "Buy" and a consensus price target of C$300.50.

WSP Global Stock Performance

WSP Global stock traded up C$1.00 during mid-day trading on Tuesday, reaching C$174.00. The company's stock had a trading volume of 311,244 shares, compared to its average volume of 504,152. The business has a 50 day moving average price of C$187.49 and a 200-day moving average price of C$220.60. WSP Global has a twelve month low of C$169.20 and a twelve month high of C$291.46. The firm has a market cap of C$23.46 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.09 and a beta of 0.20. 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 (TSE:WSP - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$2.21 earnings per share for the quarter. The company had revenue of C$4.55 billion for the quarter. WSP Global had a return on equity of 10.39% and a net margin of 5.23%. Sell-side analysts predict that WSP Global will post 9.5687404 EPS for the current fiscal year.

Insider Transactions at WSP Global

In other WSP Global news, Director Pascale Sourisse bought 364 shares of WSP Global stock in a transaction dated Wednesday, June 24th. The shares were purchased at an average cost of C$172.02 per share, with a total value of C$62,615.28. Following the transaction, the director directly owned 888 shares of the company's stock, valued at C$152,753.76. This represents a 69.47% increase in their ownership of the stock. 0.06% of the stock is currently owned by insiders.

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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