Scotiabank Forecasts Strong Price Appreciation for WSP Global (TSE:WSP) Stock

Key Points

• Scotiabank raised its price target on WSP Global to C$286 and maintained an "outperform" rating, implying about a 28.68% upside from the stock's prior close.
• The analyst consensus is a "Buy" with one "Strong Buy" and nine "Buy" ratings and a consensus target of C$323.27, well above current trading levels.
• WSP traded at C$222.26 (up ~1.5% mid-day), has a market cap of C$29.96 billion and a P/E of 30.20, with a 12‑month range of C$210.86–C$291.46.

WSP Global (TSE:WSP - Get Free Report) had its price objective upped by Scotiabank from C$284.00 to C$286.00 in a report issued on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Scotiabank's price objective would indicate a potential upside of 28.68% from the stock's previous close.

Other analysts have also recently issued research reports about the company. ATB Cormark Capital Markets cut WSP Global from a "strong-buy" rating to a "moderate buy" rating in a research report on Friday, February 20th. Stifel Nicolaus reduced their price target on WSP Global from C$360.00 to C$320.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Desjardins upped their price target on WSP Global from C$346.00 to C$375.00 and gave the stock a "buy" rating in a research report on Tuesday, December 23rd. National Bank Financial reduced their price target on WSP Global from C$309.00 to C$268.00 and set an "outperform" rating for the company in a research report on Wednesday, April 8th. Finally, Royal Bank Of Canada upped their price target on WSP Global from C$316.00 to C$325.00 in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$323.27.

WSP Global Stock Up 1.5%

WSP Global stock traded up C$3.39 during mid-day trading on Monday, hitting C$222.26. The company had a trading volume of 184,760 shares, compared to its average volume of 498,629. The company has a current ratio of 1.27, a quick ratio of 1.04 and a debt-to-equity ratio of 59.38. The stock's 50 day moving average price is C$229.59 and its two-hundred day moving average price is C$249.56. WSP Global has a 12 month low of C$210.86 and a 12 month high of C$291.46. The company has a market capitalization of C$29.96 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 1.09 and a beta of 0.30.

WSP Global (TSE:WSP - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported C$2.65 earnings per share (EPS) for the quarter. The firm had revenue of C$4.85 billion for the quarter. WSP Global had a return on equity of 10.86% and a net margin of 5.27%. As a group, sell-side analysts anticipate that WSP Global will post 9.5687404 earnings per share for the current fiscal year.

About WSP Global

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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