WSP Global (TSE:WSP) Share Price Passes Above 50-Day Moving Average - Here's What Happened

Key Points

• WSP Global shares crossed above their 50-day moving average, reaching C$185.69 before last trading at C$182.85; the 50-day average is C$182.05.
• Analysts remain broadly bullish, with one Strong Buy and twelve Buy ratings. The stock has an average rating of “Buy” and an average price target of C$294.15, despite mixed target-price revisions.
• WSP reported quarterly EPS of C$2.88 on C$5.40 billion in revenue and recently declared a quarterly dividend of $0.375 per share, equivalent to a 0.8% annualized yield.

WSP Global Inc. (TSE:WSP - Get Free Report) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$182.05 and traded as high as C$185.69. WSP Global shares last traded at C$182.85, with a volume of 681,639 shares.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce lowered their price objective on shares of WSP Global from C$318.00 to C$266.00 and set an "outperformer" rating on the stock in a report on Wednesday, July 8th. BMO Capital Markets increased their target price on shares of WSP Global from C$272.00 to C$280.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. ATB Cormark Capital Markets decreased their target price on shares of WSP Global from C$330.00 to C$325.00 and set an "outperform" rating for the company in a research report on Friday, August 7th. National Bank Financial lifted their price target on shares of WSP Global from C$207.00 to C$219.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Finally, Desjardins cut their price target 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. One equities research analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of C$294.15.

WSP Global Stock Performance

The stock has a market capitalization of C$24.65 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.09 and a beta of 0.30. The stock has a 50 day simple moving average of C$182.05 and a two-hundred day simple moving average of C$199.41. The company has a quick ratio of 1.04, a current ratio of 1.20 and a debt-to-equity ratio of 84.47.

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

WSP Global Dividend Announcement

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

Insider Buying and Selling

In other news, Director Pascale Sourisse purchased 364 shares of the business's stock in a transaction on Wednesday, June 24th. The stock was purchased at an average price of C$172.02 per share, for a total transaction of C$62,615.28. Following the completion of the purchase, the director directly owned 888 shares in the company, valued at C$152,753.76. The trade was a 69.47% increase in their position. 0.06% of the stock is currently owned by corporate insiders.

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.