Canaccord Genuity Group Issues Pessimistic Forecast for WSP Global (TSE:WSP) Stock Price

Key Points

• Canaccord Genuity Group cut its price target on WSP Global from C$345 to C$315, while keeping a buy rating. The new target still implies about 46.5% upside from the prior close.
• Several other analysts also lowered their targets, including CIBC, TD, TD Securities, and Stifel, though the overall consensus remains a Buy with an average target price of C$313.42.
• WSP Global shares fell to C$215.04 on Friday, near the lower end of their 12-month range, after the company recently reported C$2.21 EPS on C$4.55 billion in quarterly revenue.

WSP Global (TSE:WSP - Get Free Report) had its price objective cut by investment analysts at Canaccord Genuity Group from C$345.00 to C$315.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective suggests a potential upside of 46.48% from the stock's previous close.

A number of other research analysts also recently commented on WSP. Canadian Imperial Bank of Commerce dropped their target price on shares of WSP Global from C$328.00 to C$318.00 in a research report on Friday. TD decreased 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 research note on Tuesday, April 28th. TD Securities decreased their price target on shares of WSP Global from C$335.00 to C$311.00 and set a "buy" rating for the company in a research note on Tuesday, February 24th. National Bank Financial increased 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 research note on Friday. Finally, Stifel Nicolaus reduced their target price on shares of WSP Global from C$320.00 to C$280.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of C$313.42.

WSP Global Stock Performance

WSP traded down C$9.14 on Friday, reaching C$215.04. The stock had a trading volume of 323,636 shares, compared to its average volume of 481,277. The company has a market cap of C$28.99 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 1.09 and a beta of 0.28. The business's 50-day moving average price is C$224.11 and its two-hundred day moving average price is C$243.52. 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 released its earnings results on Wednesday, May 6th. The company reported C$2.21 EPS for the quarter. The business 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%. Sell-side analysts forecast that WSP Global will post 9.5687404 earnings per share for the current year.

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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