Scotia Cuts WSP Global (TSE:WSP) Price Target to C$279.00

Key Points

• Scotia lowered its price target for WSP Global from C$281 to C$279 while maintaining a “sector outperform” rating, implying 46.02% upside from the prior close.
• Analyst sentiment remains positive, with WSP holding an overall “Buy” consensus and an average price target of C$294.15, despite several recent target reductions.
• WSP reported quarterly revenue of C$5.40 billion and earnings of C$2.88 per share; its shares traded at C$191.07, well below the 52-week high of C$291.46.

WSP Global (TSE:WSP - Get Free Report) had its price target decreased by equities research analysts at Scotia from C$281.00 to C$279.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a "sector outperform" rating on the stock. Scotia's price objective would indicate a potential upside of 46.02% from the company's previous close.

WSP has been the topic of a number of other reports. ATB Cormark Capital Markets dropped 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 note on Friday. BMO Capital Markets increased their target price on WSP Global from C$272.00 to C$280.00 and gave the company an "outperform" rating in a report on Thursday. TD dropped their target price on WSP Global from C$307.00 to C$255.00 and set a "buy" rating on the stock in a research report on Tuesday, July 28th. Stifel Nicolaus cut their price target on WSP Global from C$320.00 to C$280.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Finally, Canaccord Genuity Group reduced their price target on shares of WSP Global from C$345.00 to C$315.00 and set a "buy" rating for the company in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. According to data from MarketBeat.com, WSP Global currently has an average rating of "Buy" and a consensus target price of C$294.15.

WSP Global Stock Performance

WSP traded up C$1.51 during midday trading on Monday, hitting C$191.07. 415,253 shares of the company traded hands, compared to its average volume of 528,776. The company has a quick ratio of 1.04, a current ratio of 1.19 and a debt-to-equity ratio of 87.04. The firm has a market capitalization of C$25.76 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 1.09 and a beta of 0.19. The company's 50-day moving average is C$177.62 and its 200 day moving average is C$209.61. WSP Global has a 52 week low of C$156.64 and a 52 week high of C$291.46.

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

Insiders Place Their Bets

In related news, Director Pascale Sourisse bought 364 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were bought at an average cost of C$172.02 per share, for a total transaction of C$62,615.28. Following the completion of the transaction, the director owned 888 shares of the company's stock, valued at approximately C$152,753.76. This trade represents 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).

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