WSP Global (TSE:WSP) Reaches New 1-Year High - Here's Why

Key Points

• WSP Global Inc. shares reached a new 52-week high, trading at C$290.09, with a recent closing price of C$289.50.
• Several analysts have upgraded their price targets for WSP Global, with Canaccord Genuity raising theirs to C$335.00 and a consensus price target of C$304.69.
• The company announced a quarterly dividend of $0.375 per share, reflecting an annualized yield of 0.5% with a payout ratio of 24.47%.

WSP Global Inc. (TSE:WSP - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$290.09 and last traded at C$289.50, with a volume of 85331 shares changing hands. The stock had previously closed at C$283.35.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WSP shares. Desjardins boosted their price objective on shares of WSP Global from C$301.00 to C$313.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. CIBC lifted their target price on WSP Global from C$305.00 to C$317.00 in a research note on Friday, July 18th. Stifel Nicolaus boosted their target price on shares of WSP Global from C$305.00 to C$317.00 in a research report on Wednesday, July 16th. National Bankshares upped their price objective on WSP Global from C$292.00 to C$297.00 in a research note on Friday, August 8th. Finally, Canaccord Genuity Group upped their price target on WSP Global from C$305.00 to C$335.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of C$304.69.

WSP Global Price Performance

The company has a quick ratio of 1.04, a current ratio of 1.26 and a debt-to-equity ratio of 80.45. The firm has a market capitalization of C$38.04 billion, a P/E ratio of 47.54, a PEG ratio of 1.09 and a beta of 0.64. The business's 50 day moving average is C$282.10 and its 200-day moving average is C$265.93.

WSP Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, June 30th. WSP Global's dividend payout ratio (DPR) is 24.47%.

Insider Activity at WSP Global

In other WSP Global news, Director Alexandre L'heureux sold 40,713 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of C$280.54, for a total value of C$11,421,625.02. Following the completion of the sale, the director owned 37,809 shares in the company, valued at approximately C$10,606,936.86. This trade represents a 51.85% decrease in their position. Also, insider Philippe Fortier sold 7,000 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of C$280.43, for a total transaction of C$1,963,010.00. Following the sale, the insider directly owned 1,747 shares in the company, valued at C$489,911.21. The trade was a 80.03% decrease in their position. Insiders have sold a total of 78,781 shares of company stock worth $22,092,534 over the last quarter. 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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