WSP Global (TSE:WSP) Reaches New 1-Year High - Still a Buy?

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%.

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

Wall Street Analyst Weigh In

WSP has been the subject of a number of recent analyst reports. ATB Capital increased their price target on shares of WSP Global from C$270.00 to C$305.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Royal Bank Of Canada increased their price target on shares of WSP Global from C$289.00 to C$293.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Desjardins increased their price target on shares of WSP Global from C$301.00 to C$313.00 and gave the company a "buy" rating in a research note on Friday, August 8th. CIBC raised their target price on shares of WSP Global from C$305.00 to C$317.00 in a research note on Friday, July 18th. Finally, Stifel Nicolaus raised their target price on shares of WSP Global from C$305.00 to C$317.00 in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, WSP Global presently has an average rating of "Buy" and an average price target of C$304.69.

WSP Global Trading Down 1.0%

The firm has a market capitalization of C$37.23 billion, a P/E ratio of 46.53, a price-to-earnings-growth ratio of 1.09 and a beta of 0.64. The business's 50-day moving average is C$282.90 and its 200 day moving average is C$266.88. The company has a debt-to-equity ratio of 80.45, a current ratio of 1.26 and a quick ratio of 1.04.

WSP Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors 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 yield of 0.5%. The ex-dividend date of this dividend was Monday, June 30th. WSP Global's dividend payout ratio (DPR) is currently 24.47%.

Insider Buying and Selling

In other WSP Global news, insider Alain Michaud sold 6,068 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of C$280.43, for a total value of C$1,701,649.24. Following the transaction, the insider directly owned 6,493 shares of the company's stock, valued at C$1,820,831.99. This trade represents a 48.31% decrease in their position. Also, Director Alexandre L'heureux sold 40,713 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of C$280.54, for a total transaction of C$11,421,625.02. Following the completion of the transaction, the director directly owned 37,809 shares in the company, valued at approximately C$10,606,936.86. This represents a 51.85% decrease in their ownership of the stock. Over the last three months, insiders have sold 78,781 shares of company stock valued at $22,092,534. 0.06% of the stock is owned by company insiders.

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).