WSP Global (TSE:WSP) Price Target Lowered to C$255.00 at TD

Key Points

• TD lowered WSP Global’s price target to C$255 from C$307 while maintaining a “buy” rating, implying 46.43% upside from the prior close.
• Other brokerages also reduced their targets, but analyst sentiment remained positive: WSP has an average “Buy” rating and a consensus target of C$296.17.
• WSP shares rose 1.0% to C$174.14 in Tuesday trading. The company recently reported quarterly revenue of C$4.55 billion and EPS of C$2.21, while director Pascale Sourisse purchased C$62,615 of shares in June.

WSP Global (TSE:WSP - Get Free Report) had its price objective lowered by investment analysts at TD from C$307.00 to C$255.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD's price objective would suggest a potential upside of 46.43% from the company's previous close.

A number of other brokerages also recently issued reports on WSP. Stifel Nicolaus dropped their price objective on WSP Global from C$320.00 to C$280.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Scotiabank lowered their target price on WSP Global from C$286.00 to C$281.00 and set a "sector outperform" rating for the company in a report on Friday, July 10th. National Bank Financial dropped their price target on WSP Global from C$272.00 to C$207.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. Desjardins set a C$372.00 price target on WSP Global and gave the stock a "buy" rating in a report on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce cut their price target on WSP Global from C$318.00 to C$266.00 and set an "outperformer" rating on the stock in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$296.17.

WSP Global Trading Up 1.0%

Shares of TSE WSP traded up C$1.77 during midday trading on Tuesday, reaching C$174.14. The stock had a trading volume of 377,498 shares, compared to its average volume of 513,637. The company's 50 day moving average price is C$180.49 and its 200 day moving average price is C$215.16. The company has a debt-to-equity ratio of 87.04, a quick ratio of 1.04 and a current ratio of 1.19. WSP Global has a twelve month low of C$156.64 and a twelve month high of C$291.46. The firm has a market cap of C$23.48 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 1.09 and a beta of 0.20.

WSP Global (TSE:WSP - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported C$2.21 earnings per share (EPS) for the quarter. WSP Global had a net margin of 5.23% and a return on equity of 10.39%. The business had revenue of C$4.55 billion for the quarter. As a group, sell-side analysts expect that WSP Global will post 9.5687404 EPS for the current year.

Insider Activity

In other WSP Global news, Director Pascale Sourisse purchased 364 shares of WSP Global stock in a transaction that occurred on Wednesday, June 24th. The stock was acquired at an average price of C$172.02 per share, with a total value of C$62,615.28. Following the transaction, the director owned 888 shares in the company, valued at C$152,753.76. This trade represents a 69.47% increase in their position. 0.06% of the stock is currently owned by corporate 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).

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