WSP Global (TSE:WSP) Shares Cross Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• WSP Global shares fell below their 200-day moving average, reaching C$160.02 and last trading at C$161.64, versus a 200-day average of C$190.26.
• Despite the decline, analysts remain broadly bullish: the stock has an average “Buy” rating and a consensus price target of C$289.62, although several firms recently lowered their targets.
• In its latest quarter, WSP Global reported C$2.88 EPS and C$5.40 billion in revenue, with a 4.81% net margin and 9.52% return on equity.

WSP Global Inc. (TSE:WSP - Get Free Report) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$190.26 and traded as low as C$160.02. WSP Global shares last traded at C$161.64, with a volume of 540,334 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Scotiabank decreased their target price on shares of WSP Global from C$286.00 to C$281.00 and set a "sector outperform" rating for the company in a research report on Friday, July 10th. ATB Cormark Capital Markets decreased their price target on WSP Global from C$330.00 to C$325.00 and set an "outperform" rating on the stock in a research report on Friday, August 7th. Royal Bank Of Canada reduced their price objective on WSP Global from C$304.00 to C$303.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 30th. Canadian Imperial Bank of Commerce dropped their price target on WSP Global from C$318.00 to C$266.00 and set an "outperformer" rating for the company in a research note on Wednesday, July 8th. Finally, Desjardins decreased their price target on shares of WSP Global from C$372.00 to C$369.00 and set a "buy" rating for the company in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of C$289.62.

WSP Global Stock Performance

The business has a 50 day moving average of C$182.41 and a 200-day moving average of C$190.26. The company has a market capitalization of C$21.79 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 1.09 and a beta of 0.40. The company has a debt-to-equity ratio of 84.47, a quick ratio of 1.04 and a current ratio of 1.20.

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 (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 during the quarter. On average, sell-side analysts predict that WSP Global Inc. will post 9.57 EPS for the current fiscal 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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