WSP Global (TSE:WSP) Share Price Crosses Below Fifty Day Moving Average - Here's What Happened

Key Points

• WSP Global shares fell below their 50-day moving average, trading as low as C$177.17 before closing at C$180.80, below the C$183.03 average.
• Analysts remain broadly bullish despite several target-price reductions: the stock has a consensus “Buy” rating and an average target of C$294.15.
• WSP reported quarterly EPS of C$2.88 on C$5.40 billion in revenue and maintains a quarterly dividend of $0.375 per share, equivalent to a 0.8% annualized yield.

WSP Global Inc. (TSE:WSP - Get Free Report) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$183.03 and traded as low as C$177.17. WSP Global shares last traded at C$180.80, with a volume of 216,531 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce cut their price target 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. Scotia decreased their price objective 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. Desjardins lowered their target price on shares of WSP Global from C$372.00 to C$369.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. BMO Capital Markets increased their target price on shares of WSP Global from C$272.00 to C$280.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada lifted their price target on shares of WSP Global from C$300.00 to C$304.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$294.15.

WSP Global Price Performance

The company has a debt-to-equity ratio of 84.47, a current ratio of 1.20 and a quick ratio of 1.04. The firm has a market capitalization of C$24.37 billion, a PE ratio of 25.79, a P/E/G ratio of 1.09 and a beta of 0.30. The company has a 50-day moving average price of C$183.03 and a 200-day moving average price of C$196.41.

WSP Global (TSE:WSP - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported C$2.88 earnings per share for the quarter. The firm had revenue of C$5.40 billion during the quarter. WSP Global had a net margin of 4.81% and a return on equity of 9.52%. Sell-side analysts forecast that WSP Global Inc. will post 9.5687404 EPS for the current year.

WSP Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.50 annualized dividend and a dividend yield of 0.8%. WSP Global's dividend payout ratio is presently 21.40%.

Insider Transactions at WSP Global

In other news, Director Pascale Sourisse bought 364 shares of the stock in a transaction on Wednesday, June 24th. The stock was purchased at an average cost of C$172.02 per share, with a total value of C$62,615.28. Following the purchase, the director owned 888 shares of the company's stock, valued at approximately C$152,753.76. The trade was a 69.47% increase in their ownership of the stock. Company insiders own 0.06% of the company's stock.

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.