Canadian Imperial Bank of Commerce Lowers WSP Global (TSE:WSP) Price Target to C$328.00

Key Points

• Canadian Imperial Bank of Commerce cut its price target for WSP Global from C$343 to C$328, implying a potential upside of 49.83% from the current share price.
• Analysts maintain a consensus Buy rating (one Strong Buy, nine Buy) with an average target of C$323.09, though individual targets range from C$284 to C$375.
• WSP shares traded at C$218.92 (down 0.4%) with a market cap of C$29.5B, a P/E of 29.7, and last quarter EPS of C$2.65 on C$4.85B revenue.

WSP Global (TSE:WSP - Get Free Report) had its target price reduced by Canadian Imperial Bank of Commerce from C$343.00 to C$328.00 in a report released on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price objective would suggest a potential upside of 49.83% from the company's current price.

Other analysts have also issued reports about the stock. TD Securities lowered their price objective 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. Raymond James Financial upped their price objective on shares of WSP Global from C$310.00 to C$340.00 in a research note on Sunday, January 4th. Scotiabank lowered their price objective on shares of WSP Global from C$320.00 to C$284.00 and set an "outperform" rating for the company in a research note on Friday, February 27th. ATB Cormark Capital Markets lowered shares of WSP Global from a "strong-buy" rating to a "moderate buy" rating in a research note on Friday, February 20th. Finally, Desjardins upped their price objective on shares of WSP Global from C$346.00 to C$375.00 and gave the stock a "buy" rating in a research note on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of C$323.09.

WSP Global Stock Down 0.4%

TSE:WSP traded down C$0.96 during mid-day trading on Thursday, reaching C$218.92. The company's stock had a trading volume of 193,374 shares, compared to its average volume of 502,962. WSP Global has a 1 year low of C$210.86 and a 1 year high of C$291.46. The stock has a fifty day moving average of C$231.37 and a 200-day moving average of C$250.58. The firm has a market capitalization of C$29.51 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.09 and a beta of 0.30. The company has a quick ratio of 1.04, a current ratio of 1.27 and a debt-to-equity ratio of 59.38.

WSP Global (TSE:WSP - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported C$2.65 earnings per share for the quarter. WSP Global had a net margin of 5.27% and a return on equity of 10.86%. The company had revenue of C$4.85 billion during the quarter. Equities research analysts forecast that WSP Global will post 9.5687404 earnings per share for the current 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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.