WSP Global (TSE:WSP) Shares Pass Below 200 Day Moving Average - Here's What Happened

Key Points

• WSP Global shares fell below their 200-day moving average, reaching C$187.06 and last trading at C$188.25 versus the C$201.23 average.
• Analysts remain broadly bullish, with one Strong Buy and twelve Buy ratings; the consensus price target is C$294.15, despite several firms recently cutting their targets.
• WSP reported quarterly revenue of C$5.40 billion and EPS of C$2.88, while maintaining a quarterly dividend of C$0.375, equivalent to a 0.8% annual yield.

Shares of WSP Global Inc. (TSE:WSP - Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$201.23 and traded as low as C$187.06. WSP Global shares last traded at C$188.25, with a volume of 458,515 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WSP. Canadian Imperial Bank of Commerce cut their price objective 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. TD lowered their target price on shares of WSP Global from C$307.00 to C$255.00 and set a "buy" rating on the stock in a research note on Tuesday, July 28th. Desjardins dropped their target price on 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. Canaccord Genuity Group cut their price target on WSP Global from C$345.00 to C$315.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Finally, Royal Bank Of Canada upped their price target on WSP Global from C$300.00 to C$304.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of C$294.15.

WSP Global Price Performance

The company has a 50-day moving average of C$180.90 and a 200 day moving average of C$201.23. The company has a quick ratio of 1.04, a current ratio of 1.20 and a debt-to-equity ratio of 84.47. The stock has a market capitalization of C$25.38 billion, a PE ratio of 26.85, a PEG ratio of 1.09 and a beta of 0.19.

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 company had revenue of C$5.40 billion for the quarter. Sell-side analysts predict that WSP Global Inc. will post 9.5687404 EPS for the current year.

WSP Global Announces Dividend

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

Insiders Place Their Bets

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

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