WSP Global (TSE:WSP) Share Price Breaks Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• WSP Global shares fell below their 200-day moving average, reaching C$173.70 before closing at C$182.75, below the C$188.26 long-term average.
• Analysts have lowered several price targets, but sentiment remains positive: WSP holds an overall “Buy” consensus with a C$289.62 average target.
• The company reported C$2.88 quarterly EPS and C$5.40 billion in revenue; however, profitability was modest, with a 4.81% net margin and 9.52% return on equity.

WSP Global Inc. (TSE:WSP - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$188.26 and traded as low as C$173.70. WSP Global shares last traded at C$182.75, with a volume of 1,015,604 shares.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of WSP Global from C$280.00 to C$230.00 and set a "buy" rating on the stock in a research note on Wednesday, September 30th. Royal Bank Of Canada cut their price target on WSP Global from C$304.00 to C$303.00 and set an "outperform" rating for the company in a research note on Wednesday, September 30th. TD cut their target price on WSP Global from C$307.00 to C$255.00 and set a "buy" rating for the company in a research note on Tuesday, July 28th. National Bank Financial reduced their price objective on WSP Global from C$219.00 to C$216.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 30th. Finally, Scotia decreased their price target on shares of WSP Global from C$281.00 to C$279.00 and set a "sector outperform" rating on the stock in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of C$289.62.

WSP Global Stock Performance

The firm has a market capitalization of C$24.64 billion, a P/E ratio of 26.07, a P/E/G ratio of 1.09 and a beta of 0.40. The stock has a fifty day simple moving average of C$179.62 and a two-hundred day simple moving average of C$188.26. The company has a debt-to-equity ratio of 84.47, a current ratio of 1.20 and a quick ratio of 1.04.

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. WSP Global had a net margin of 4.81% and a return on equity of 9.52%. The business had revenue of C$5.40 billion for the quarter. On average, research analysts predict that WSP Global Inc. will post 9.57 EPS 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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