WSP Global (TSE:WSP) Given New C$280.00 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets raised its price target for WSP Global from C$272 to C$280 and maintained an “outperform” rating, implying 47.86% potential upside from the reported C$189.37 share price.
• Analyst sentiment remains positive, with one Strong Buy and eleven Buy ratings; the consensus rating is “Buy” and the average price target is C$296.83, despite several firms recently lowering their targets.
• WSP reported quarterly revenue of C$5.40 billion and earnings of C$2.88 per share. Director Pascale Sourisse also purchased 364 shares for approximately C$62,615, increasing her ownership by 69.47%.

WSP Global (TSE:WSP - Get Free Report) had its price target increased by analysts at BMO Capital Markets from C$272.00 to C$280.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' price target suggests a potential upside of 47.86% from the stock's current price.

A number of other research analysts have also recently commented on WSP. Canaccord Genuity Group reduced their target price on WSP Global from C$345.00 to C$315.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Desjardins set a C$372.00 price objective on WSP Global and gave the stock a "buy" rating in a report on Thursday, July 16th. TD reduced their price objective 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. Canadian Imperial Bank of Commerce dropped their target price on WSP Global from C$318.00 to C$266.00 and set an "outperformer" rating for the company in a research report on Wednesday, July 8th. Finally, ATB Cormark Capital Markets cut their target price on WSP Global from C$335.00 to C$330.00 and set an "outperform" rating for the company in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of C$296.83.

WSP Global Price Performance

WSP traded up C$8.25 during trading on Thursday, reaching C$189.37. 576,143 shares of the company were exchanged, compared to its average volume of 521,130. WSP Global has a 12-month low of C$156.64 and a 12-month high of C$291.46. The company's 50-day moving average is C$177.71 and its two-hundred day moving average is C$210.75. 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 company has a market cap of C$25.53 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 1.09 and a beta of 0.19.

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

Insider Activity at WSP Global

In other news, Director Pascale Sourisse bought 364 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were bought 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 directly owned 888 shares in the company, valued at C$152,753.76. This represents a 69.47% increase in their ownership of the stock. 0.06% of the stock is currently owned by insiders.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source