Royal Bank Of Canada Boosts WSP Global (TSE:WSP) Price Target to C$304.00

Key Points

• Royal Bank of Canada raised WSP Global’s price target to C$304 from C$300 and maintained an “outperform” rating, implying roughly 59% upside from the reported C$191.16 share price.
• Analyst sentiment remains broadly positive, with one Strong Buy and twelve Buy ratings; MarketBeat data shows an average rating of “Buy” and an average price target of C$294.15.
• WSP Global reported quarterly earnings of C$2.88 per share on C$5.40 billion in revenue, while its shares remain well below the 12-month high of C$291.46.

WSP Global (TSE:WSP - Get Free Report) had its price target lifted by investment analysts at Royal Bank Of Canada from C$300.00 to C$304.00 in a report released on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 59.03% from the stock's current price.

A number of other research analysts have also recently issued reports on the company. Desjardins decreased 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. ATB Cormark Capital Markets dropped 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 report on Friday. BMO Capital Markets raised their price target on shares of WSP Global from C$272.00 to C$280.00 and gave the company an "outperform" rating in a research note on Thursday. TD reduced their price target 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. Finally, Canaccord Genuity Group decreased their price target on shares of WSP Global from C$345.00 to C$315.00 and set a "buy" rating on the stock in a report on Friday, May 8th. One 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.com, WSP Global has an average rating of "Buy" and an average price target of C$294.15.

WSP Global Stock Performance

Shares of TSE:WSP traded up C$1.60 on Monday, reaching C$191.16. 419,753 shares of the company's stock were exchanged, compared to its average volume of 528,776. WSP Global has a twelve month low of C$156.64 and a twelve month high of C$291.46. The company has a fifty day moving average of C$177.62 and a 200-day moving average of C$209.61. The company has a market capitalization of C$25.77 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.09 and a beta of 0.19. The company has a current ratio of 1.19, a quick ratio of 1.04 and a debt-to-equity ratio of 87.04.

WSP Global (TSE:WSP - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported C$2.88 earnings per share for the quarter. The company had revenue of C$5.40 billion during the quarter. WSP Global had a net margin of 5.23% and a return on equity of 10.39%. On average, research analysts predict that WSP Global will post 9.5687404 EPS for the current fiscal year.

Insider Activity at WSP Global

In other news, Director Pascale Sourisse purchased 364 shares of the business's stock in a transaction dated Wednesday, June 24th. The shares were purchased at an average cost of C$172.02 per share, with a total value of C$62,615.28. Following the completion of the purchase, the director owned 888 shares of the company's stock, valued at C$152,753.76. This trade represents a 69.47% increase in their position. 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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