Desjardins Lowers WSP Global (TSE:WSP) Price Target to C$372.00

Key Points

• Desjardins lowered its price target on WSP Global from C$375 to C$372 while keeping a buy rating, implying significant upside from the prior close.
• Other analysts were mixed but mostly positive: several trimmed targets, while Scotiabank slightly raised its target and maintained an outperform rating. Overall, WSP Global still carries a Buy consensus from analysts.
• The stock fell 4.1% to C$215.04, close to its 52-week low, after trading below both its 50-day and 200-day moving averages. The company recently reported quarterly EPS of C$2.21 on revenue of C$4.55 billion.

WSP Global (TSE:WSP - Get Free Report) had its price target lowered by investment analysts at Desjardins from C$375.00 to C$372.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price objective points to a potential upside of 72.99% from the stock's previous close.

A number of other analysts also recently weighed in on the stock. Scotiabank raised 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 research report on Monday, April 13th. Canadian Imperial Bank of Commerce reduced their price objective on WSP Global from C$328.00 to C$318.00 in a research note on Friday. Stifel Nicolaus reduced 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. TD lowered their price target on WSP Global from C$308.00 to C$307.00 and set a "buy" rating on the stock in a report on Tuesday, April 28th. Finally, BMO Capital Markets lowered their target price on WSP Global from C$334.00 to C$305.00 in a report on Friday. One research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. Based on data from MarketBeat.com, WSP Global presently has a consensus rating of "Buy" and an average target price of C$313.42.

WSP Global Trading Down 4.1%

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

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. WSP Global had a net margin of 5.27% and a return on equity of 10.86%. The business had revenue of C$4.55 billion during the quarter. Equities analysts predict 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).

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